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Defined contribution pension for employees

Your employer has entered into an agreement with Gjensidige on defined contribution pensions. The following information provides an overview of the pension and associated risk cover in regards of disability and death. 

An Introduction to Contribution Pension

Payments from the pension scheme will be made in addition to payments from the Norwegian National Insurance Scheme.

This information is in general terms. In the event of any doubt, it is the main agreement’s text, insurance certificate and conditions which apply. If you have any questions contact your employer, who will offer guidance or put you in touch with specialists at Gjensidige.

You will find specific details regarding your pension plan and membership when you are logged in at www.gjensidige.no.

What the agreement may cover

  • Savings
  • Disability pension
  • Cohabitant or spouse pension
  • Child’s pension

Definitions of spouse, cohabitants, children, etc. can be found in your insurance documents. 

  • In the event of disability, an annual disability pension will be paid. Full payment conditional on 100 % disability and full contribution time
  • In the event of death, an annual cohabitant or spouse pension will be paid
  • In the event of death, an annual child’s pension will be paid

You will find specific details regarding your pension plan and membership when you are logged in at www.gjensidige.no.

Defined contribution pension

Pension capital is paid out as a pension over no less than 10 years / until the age of 77.

For you as an employee, a contribution-based occupational pension means that the company makes a monthly contribution on your behalf to your old-age pension account. The size of your pension will depend of the size of the contributions, the length of time you have been saving and the return on your savings capital.

Pension capital is the result of

  • Contributions
  • Return
  • Time

Pension capital is paid out as a pension over no less than 10 years / until the age of 77. When you first sign up to the pension scheme, you as an employee will receive an insurance certificate which includes information about:

  • Your contribution size
  •  Your expected future old-age pension and guidance regarding the conditions which form the basis of the calculation of pension size
  • Your investment choice and the associated risks

You will then receive information about your pension scheme membership every year.

The pension scheme does not include any tax obligations on your part until it is paid out when you retire. Pension payments are taxed as pension income.

A pension account has been created for you which you will find when you are logged on at www.gjensidige.no. Here you will also find an overview of all your commitments – both private and through your employer.

Investment choices

You can choose how your pension capital will be managed by choosing between pension profiles.

When you sign up to the pension scheme, your pension capital is added in the pension profile your employer has set up. You can choose how your pension capital will be managed by choosing between pension profiles with different proportions allocated to the equity fund and fixed income fund according to defined portfolios.

You can change your pension profile by logging in at gjensidige.no.

A portfolio where a small share of your pension capital is in the equity fund is lower risk, but there is also a lower rate of return over time. On the other hand a greater share of your pension capital in the equity fund will give a greater rate of return over time, but will also involve a greater risk of fluctuations during the saving period.

What will happen in the event of disability or death?

In the event of disability or death: 

What happens when I retire or resign?

Retire or resign: