The Norwegian pension system is changing, and there will be major changes to the National Insurance scheme and AFP from January 1st 2011.
For the time being, these changes relate to retirement pensions and AFP, but there will also be changes to disability and dependants pensions later on.
The legislation for occupational pension schemes will also be adjusted in line with the National Insurance scheme and AFP rules. The Banking Law Commission delivered its first report regarding changes to occupational pension schemes in May 2010.
The new rules under the National Insurance Scheme apply in full to everyone who was born in 1963 and after, while those born before 1954 will earn according to the old model. Those born between 1954 and 1962 will have their pensionable earnings calculated as a combination of the new and old rules. The rules regarding pension adjustments will apply to everyone in receipt of a retirement pension after 1.1.2011, irrespective of when they were born.