Norwegian Pension.

Hi Nitrox1,

Welcome to Expat.com!

May be you could give us a brief introduction of yourself.

I hope you get replies very soon.

Best of luck,
Christine

Hey,

It depends if you work as a civil servant or in the private sector. For the later, three systems may cohabit:
- the state social security pension, which is a maximum of NOK 75K per year today and is paid after 67. the amount will calculated based on the number of years you have actually worked/lived in Norway. If you come from a EEE/EU countries, these years can be transfered to Norway or vice versa. you have to live 9 months a year in Norway to benefit from the pension
- a 2% mandatory contribution of the employers on your salarly that is paid to a pension fund
- a voluntary contribution that can vary by employer

The state pension is pay as you go scheme while the two others are capitalization schemes and can be sometimes cashed in under certain condition or transmitted to the descendant in case of death before the retirement age.

hope this helps

When I first started working in Norway I paid 10,000NOK a month in tax, 30% of my Gross TURNOVER (not profit after expenses were deducted). This was in the 80s so you can imagine it was a fair whack. Some years later, when I got to see my Norwegian pension, years worth of these tax deductions (£50,000) had been awarded zero pension points and I haven't been able to fix it because it seems there is no-one to deal with it.

If possible, opt OUT of the Norwegian national insurance scheme and join a private one but remember to check the deal you get into fully and that it's payable in all territories and currencies. I was told my taxes were going towards a pension but it seems that if government employees give you wrong information, there's no-one to bring a case against and anyway, you will run out of money before the Norwegian state does (see this .bbc.co.uk/news/uk-england-derbyshire-16618346)

I could go on but, I suppose, the golden rule is ... working in a high tax territory only makes sense if you have access to its welfare system where the state redistributes what's collected to you on equal terms with the natives and gives you residence rights to collect the pension in the country where you earned it. This, of course, isn't the case in most cases, in Norway.