Pensjonsloven

Pensjonsloven is the Norwegian legislation governing occupational pensions. It establishes the framework for how employers are obligated to provide pension schemes for their employees. The law aims to ensure a basic level of income security for individuals in retirement, supplementing the state pension system. It outlines requirements for employer contributions, minimum pension levels, and vesting periods, meaning the time an employee must work to earn a right to the employer's contributions.

The current Pensjonsloven, enacted in 2019, replaced earlier legislation and introduced several changes, including increased flexibility for employees and employers. It covers different types of occupational pensions, such as defined contribution and defined benefit plans, and specifies rules regarding how these plans are managed and administered. The law also addresses issues like early retirement, disability pensions within occupational schemes, and the transferability of pension rights.

Key aspects of Pensjonsloven include rules on disclosure, requiring employers to provide clear information to employees about their pension schemes. It also sets guidelines for investment and risk management of pension funds. The legislation is overseen by the Norwegian Financial Supervisory Authority (Finanstilsynet), which ensures compliance and protects the rights of pension savers. The objective is to create a stable and predictable system that supports long-term financial well-being for the Norwegian workforce.