Retirement pension and lifelong contractual pension (AFP) for employees born 1963 or later
The current regulations for state occupational pension offer a flexible retirement. You are able to work alongside pension withdrawals. Contractual pension (AFP) has changed from an early retirement scheme to a lifelong payment, which is added to your total pension.
Work as much as you like
Start withdrawing pension while still working, regardless of public or private sector employment. Choose between working full-time or part-time.
The longer you work, the higher pension
Your pension accruals keep growing as long as you keep working, and based on your annual income.
Your pension has multiple parts
Your pension consists of three parts: A lifelong contractual pension (AFP) and pensions accrued before and after 2020. You can withdraw the three pensions together or individually.
Work as much as you like while withdrawing pension
The current pension regulations mean that:
- You choose when to start withdrawing your pension after turning 62
- You can continue working full-time alongside pension withdrawal
- You have to apply for pension yourself, not via your employer as earlier
- Reduced working hours and full retirement is a matter between you and your employer.
How to increase your pension
Continue working: As long as you continue working, you will accrue pension for income until the age of 75. Additionally, your pension is adjusted annually in line with the annual pension adjustments in Norway.
Postpone your retirement: For each year you postpone your pension withdrawal after turning 62, your future pension will increase. Starting early withdrawal at 62, could mean lower monthly pension, depending on individual accruals.
Your pension consists of several parts
Your pension can be visualized as a pyramid. The largest part comes from the national pension scheme (dark blue). In addition, there is occupational pension (blue) as well as personal savings (yellow).
Your pension from SPK has three parts
- Lifelong Contractual Pension (AFP)
Can be withdrawn at the earliest from age 62. It is a lifelong, monthly payment that cannot be paused. If you are not entitled to AFP, you may be eligible for a lifelong conditional service pension instead. If you are born between 1963 and 1970, you may be entitled to a transitional supplement if leaving your job before reaching the age of 67. - Pension accrued before 2020 (In Norwegian)
Can be withdrawn at the earliest from age 62, Requires withdrawal of retirement pension from the National Insurance Scheme (NAV) at the same time. The pension is lifelong, monthly payment that cannot be paused. - Pension accrued from 2020 (In Norwegian)
Can be withdrawn at the earliest from age 62. It is a lifelong, monthly payment that can be withdrawn as a full or partial pension from 20 percent to 40, 50, 60, 80 or 100 percent. The percentage can be changed once a year, and the pension can be paused or maxed at any time.
Log in to check your pension
- The pension calculator shows how much pension you have accrued.
- It calculates your annual pension and AFP, including figures from NAV, if keeping your current employment and job.
- See your relevant options for combining work and pension, and how different choices will affect your pension.
- Check that your employment details are registered with the correct salary and percentage of employment.
- Four months before you turn 62, a new option called "Apply for pension" will automatically appear while you are logged in. This option remains visible until you choose to apply.
Learn more about your pension from SPK
- This is how you accrue funds towards your pension
- How to apply for your retirement pension
- The pension coordination rules for those born in 1963 or later (In Norwegian)
- Your pension accruals are growing steadily (In Norwegian)
Special early retirement pension
Do you have a job that entitles you to a special early retirement pension? Read more about the new rules here:
- New rules for special early retirement pension (In Norwegian)