Plan your retirement pension

Start your payout when it suits you.

Most pension schemes paid by your employer can start paying out from the age of 62.

In the online bank you can get an overview of your expected pension. You can see how different choices affect the payout and start receiving payments when you are ready.

The longer you wait, the higher your annual payout will be. If you withdraw your pension while working, remember that your total income may affect your tax.

How to get an overview of your pension

Start your planning by getting an overview of how much you can expect to receive in pension.

Pension calculator

Use the pension calculator to see how different choices affect your payout.

Pension calculator

Pension entitlements - private sector

Get a complete overview – view your pension entitlements from the private sector at

Norsk pensjon

Consider the consequences and alternatives

You do not need to start withdrawals from all your pension agreements at the same time. When you need to consider the order for pension withdrawals, it is important to think about your own life situation – including marital status, health and financial needs.

Suggested order for pension withdrawals

1. National Insurance and AFP	• Not inheritable • Activates pension tax relief, which can reduce your tax burden • Largest payout and therefore greatest impact on your finances
2. Paid-up policies, defined-benefit pension and public occupational pension scheme	• Not inheritable • Often lifelong payout and guaranteed rate of return (on policyholders' funds), which provides predictable annual development
3. Personal savings	• May offer greater flexibility in terms of withdrawals • Primarily inherited by survivors, with some exceptions
4. Pension account, pension capital certificate and IPS	• Opportunity to adjust the equity allocation, which may provide better rate of return over the long term • Inherited by survivors according to specific rules, which can ensure financial stability for your descendants

Frequently asked questions

What happens if I combine pension and work?

As long as you work, your employer continues to contribute to your pension. The payment you receive whilst you are still working is based only on already accrued pension savings. The earlier you start your pension payments, the lower your annual pension will be. When you work at the same time as you draw a pension, your total income will be higher than before. This means you will have to pay more tax on your pension than if you had received pension alone. If you choose to draw a pension whilst working part-time, this will result in lower savings.

Pension and salary have different tax rules, so even if the payment should be roughly the same, the tax may not be. To see the effect of this, we recommend that you use The Norwegian Tax Administration's tax calculator.

How much tax is there on pension?

How do I register an account number for pension payments?

Can I combine disability pension and retirement pension?

Where can I find more information?

When can I start drawing my pension?

Most pension schemes paid by your employer can start paying out from the age of 62. Consider when it suits you best. Remember that the longer you wait, the higher your annual pension will be.

Consider how long you wish to work – you can continue working even if you are eligible to draw a pension. Your employer contributes to your pension as long as you are employed.
When you stop working – pension contributions from your employer will cease.

The payment must be distributed over at least ten years, and at least until you reach the age of 77.The payment starts no later than when you turn 75 unless otherwise agreed.

National Insurance Scheme – if you wish to start before the age of 67, you must have accrued sufficient pension. Check this with Nav (the Norwegian Labour and Welfare Administration).

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