Plan Your Pension

1. Get an overview

The first step in planning is to get an overview of how much you can expect to receive in pension payments. Try our Pension calculator which retrieves information from the National Insurance Scheme and employers in the private sector. You can also find a complete overview in Nav (the Norwegian Labour and Welfare Administration)'s own pension calculator.

2. Consider when you want to draw your pension

Once you have an overview, you can consider the timing of when you wish to start receiving your pension. Each additional year you continue to work will have a significant impact on your accumulated pension. The longer you work, the more pension you will receive. Familiarise yourself with how long the various pensions are paid out. Some are for life and some are limited to, for example, ten years.

In addition, it is important to consider what your life situation will be like when you need to draw your pension. How is your health? Who do you live with, and who do you share expenses with? What is the rest of your financial situation like? What is right for your neighbour or colleague is not necessarily right for you.