feriepengene

Feriepengene, often translated as holiday pay or vacation pay, is a statutory benefit in Norway that provides employees with an additional income during their annual holiday. It is a mandatory scheme regulated by the Norwegian Holidays Act (Ferieloven). The primary purpose of feriepengene is to ensure that employees can take a proper holiday without experiencing a significant reduction in their income.

Employees are entitled to feriepengene if they have earned at least 50% of the minimum annual income threshold set by Norwegian law in the preceding year. The amount of feriepengene is calculated as a percentage of the employee's gross salary earned during the holiday year. The standard rate is 10.2%, but this increases to 12% for employees who are 60 years or older at the end of the holiday year. Certain professions, such as those in the oil and gas sector, may have different rates.

The holiday pay is typically paid out when the employee takes their main holiday, usually in the summer months. It is calculated based on the salary earned in the previous calendar year. This means that the feriepengene earned in one year are paid out in the following year, during the holiday period. If an employee leaves their job, they are entitled to receive any accrued feriepengene as part of their final settlement. The scheme applies to most employees, including those working full-time, part-time, and on temporary contracts, provided they meet the minimum income requirements.