Defined-contribution pension

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 gives the company the right to a tax deduction.

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, substitutes and hourly wage earners.

You can choose a deposit between 2 per cent and 7 per cent of the employees’ salaries up to 12G. An additional deposit of up to 18.1 per cent can also be given if the employee has a salary between 7.1 – 12G.

Investment choice

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

Defined-contribution pension (PDF)Open the file in a new tab

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.

How to transfer your pension from another bank

Do you have a pension agreement with another bank? Banking and pensions are closely linked. If you transfer your pension to us, you will get a full overview through the internet bank.

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

Pension provider

The pension agreement is provided by DNB Livsforsikring AS.