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Defined-contribution pension

A good defined-contribution pension is a form of security for your employees and ensures that your company is competitive when recruiting in the future.

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  • Easy to administer

  • Defined-contribution pension is the most common pension scheme

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How does a defined-contribution pension work?

A defined-contribution pension scheme for businesses provides a simple way to ensure statutory saving. The scheme also provides the right to tax deductions for the company.

All employees who have turned 13 years of age must be enrolled into a pension agreement, regardless of the FTE fraction. This also applies to seasonal workers, temporary workers and hourly employees.

You can choose a deposit between 2% and 7% of the employees’ salary up to 12G. In addition, extra deposits can be given up to 18.1% if the employee has a salary between 7.1 - 12G.

Choice of investment

In DNB, your defined-contribution pension will be managed safely, sustainably and responsibly in Norway’s largest pension management environment.

When launching a pension agreement as a business owner, you can choose a starter profile. The employee can then easily change their own pension profile in the online bank or savings app Spare.

Terms and conditions

Your businesses must have a defined-contribution scheme if:

  • Two employees who have at least 75 per cent positions.
  • One employee without an ownership interest who has at least 75 per cent positions.
  • Employees who each have at least 20 per cent positions, and who together constitute two FTEs or more.
  • For self-employed people, different rules apply. Read more here

Statutory minimum requirements for pension savings:

  • You must save at least 2 per cent of the employee’s salary up to 12G. (G stands for the National Insurance basic amount)
  • The agreement must include a retirement pension and a waiver of contribution should they become incapacitated for work. The waiver of contribution ensures that the pension savings will continue even if the employee becomes incapacitated for work.

Who should be registered for the pension scheme?

Basic amount (G)

As of 1 May 2023, 1G is NOK  118,620.

How to transfer your pension from another bank

Do you have a pension agreement with another bank? Bank and pensions are closely linked. If you transfer your pension to us, you’ll get a full overview through the online bank.

Send us an authorisation so we can obtain information about your current pension agreement and give you a non-binding offer.

FAQ about defined-contribution pensions

More questions and answers

Our pension products

Pension provider

The pension agreement is provided by DNB Livsforsikring AS.

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