Norwegian Public Service Pension Fund is a public service pension fund. Membership is dependent on a job. Only those who work (or have worked) in an operation associated with the Norwegian Public Service Pension Fund are entitled to payments. The purpose of the Norwegian Public Service Pension Fund's pensions are to ensure a supplement to the National Insurance Scheme, so that our members will be economically better situated as pensioners than if they only received pensions from the National Insurance Scheme.
There are two funds that make up the Government Pension Fund:
- Global (formerly The Government Petroleum Fund)
- Norway (formerly The National Insurance Scheme Fund)
Global Government Pension Fund
The Global Government Pension Fund (Statens pensjonsfond utland or SPU) is funded by the surplus wealth produced by Norwegian petroleum. Commonly referred to as "The Petroleum Fund" (Oljefondet), it is one of the largest pension funds in Europe. The fund is managed by Norges Bank Investment Management(NBIM) on behalf of the Ministry of Finance.
The Government Pension Fund - Norway
Known as the Statens pensjonsfond Norge, or SPN, this fund was established by the National Insurance Act (Folketrygdloven) in 1967. This fund is managed by a separate board and separate government entity named Folketrygdfondet. Unlike the Global division, it is instructed to invest in domestic companies on the stock market, dominantly on Oslo Stock Exchange. Due to this, the Government Pension Fund - Norway is a key stock owner in many large Norwegian companies.
In order to be entitled to receiving pensions from Norway, you must have been a member of the National Insurance Scheme for one year. if you have been employed in two or more EEA-countries, you may earn rights to pensions in each country. What you are entitled to, when it is possible to receive various pensions, varies from country to country. The most comprehensive agreements are between EEA-countries.
Questions about benefits can be addressed to your local NAV office, or you may get in touch with NAV International for information and guidance.
Update 17/08/2010
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