Own pension account – company

The Storting has decided that all employees who have defined contribution pensions shall have an own pension account. That means that all saved contribution pension savings will be gathered on one account with the current employer. However, the employee can opt out of this. 


Own pension account will be introduced in 2021. This will apply to approximately 1.4 million workers with contribution pension.  

With own pension account, the rule that implies that one must be employed for a minimum of 12 months dissolves. In the future, employees will receive contribution pension from employers regardless of the duration of their employment. This is a great advantage for those who have short-term employment.

Who does own pension account apply?

The agreement applies to everyone who has contribution pension through employers. Most people in the private sector has contribution pension. Benefit pension and pension savings from the public sector will not be affected by own pension account.  

Why is own pension account being enforced?

The purpose of own pension account is to manage the occupational pension scheme more effectively so that employees receive more pension, a better overview and ownership of their pension. 

What does the company have to do when the scheme is introduced?

The enforcement of own pension account does not require any major changes, but companies are obligated to inform their employees about the new developments.

Employees needs information to: 

  • make valuable and well-rounded investment choices 
  • know if the investment choice is made by the pension provider, including risk, expected returns and costs
  • know that they can chose a self-selected provider to manage the current pension scheme and pension capital certificate

We will help companies with information

We want to make the transition to own pension account as easy as possible, both for the company and the employee. Therefore, we will contribute with information before, during and after the implementation of own pension account.  

Before the scheme is introduced, you can log in to our website and find support- and information material.

How will the transfer of pension capital certificate happen?

When the law is enforced, employees’ pension capital certificates are automatically moved to the company’s pension scheme. Neither the company nor its employees need to do anything. The transfer is made automatically through the different pension providers.  

What will happen to billing in the future?

Even if one or more of the employees choose a pension provider other than the current agreement in connection with the contribution pension, you will receive an invoice from us in the same way as before. We will arrange for the transfer of the pension payment to any self-selected pension providers.