Retirement pension for employees born in 1962 and earlier

Retirement pension can be withdrawn when the employee leaves their position at the retirement age. An employee has the right to retire up to three years before the retirement age with retirement pension. Partial retirement pension may be granted to employees who are entitled to early retirement but must be in agreement with the employer.

Applications for retirement after 40 or more years of service are approved by the employer for appointments before 1 January 2011.

Fremsatte krav om alderspensjon gjelder fra 01. i måneden etter at du oppfyller vilkårene for uttak av alderspensjon.

Pension age

The pension age is 67 years. Inspectors/chief inspectors may apply to leave service up to three years before the special age limit.

Employees employed before 17.3.2016 and born before 1.7.1975 have a pension age of 65 years. Inspectors/chief inspectors employed before 17.3.2016 and born before 1.7.1975 may apply to leave service from age 57.

Pension calculation

Size of pension depends on: pensionable service; the pensionable salary (limited to 12 times the National Insurance basic amount); life expectancy adjustment.

Full retirement pension amounts to 2/3 of the pensionable salary before life expectancy adjustment. The pensionable salary is as a main rule the member's fixed annual salary upon retirement including any pensionable supplements at the time of retirement (max 12 G).

To receive full retirement pension, the member must have worked 30 years in full-time employment. If the service period is less than 30 years, the pension is reduced proportionally. The reduction amounts to n/30 for each year less than 30 years.

Norges Bank's Pension Fund is not part of The Transfer Agreement (OFA). Special rules apply here.

Deferred pension

If a member resigns from their position after at least one year of pensionable service, the member is entitled to a deferred pension. The right to a deferred retirement pension normally arises from age 67.