Norway Pension Calculator

This calculator gives one combined estimate of your Norwegian retirement income: the State pension from the National Insurance Scheme (folketrygden), the workplace pension your employer pays into (tjenestepensjon, or OTP), an individual pension account (IPS) and any other saving you add. You see the monthly amount in the first year, how much of your salary that represents, and what happens when the workplace pension and IPS are fully paid out. The State pension follows the rules for people born in 1963 or later.

All amounts are in today's kroner and before tax. The calculator assumes the same real salary for your whole career, that you work until the age you start drawing, and that you take out all pensions at once. Return on workplace pension, IPS and savings is measured above wage growth, with 2% as the default. This is an assumption, not a forecast. For the exact figure from the State pension, log in to nav.no and read your accrued pension balance, which you can enter in the calculator.

How much of your salary becomes pension?

The table shows the State pension and workplace pension in the first year, as a percentage of salary, for someone who starts work at 25 in 2026 and draws at 67. The workplace pension is spread over 15 years at a return of 2% above wage growth. IPS and other savings are not included.

On low salaries the guarantee pension lifts the State pension. The table uses the higher guarantee rate, which applies to single people. If you are married or live with someone who has an income above 2G, the ordinary rate applies and the share is lower. When the workplace pension is paid out over a short period, your pension can be higher than your salary in the first years, and once it is used up only the State pension remains. Income above 7.1G (NOK 969,498) does not build State pension, so high earners depend more on workplace pension and their own saving.

Worked example: a 41-year-old on NOK 700,000

Alex was born in 1985 and has worked since 25. Alex earns NOK 700,000, has a 5% workplace pension and NOK 300,000 in the pension account, and deposits NOK 25,000 a year in IPS. Drawing everything at 67, the State pension is NOK 317,913 a year. The workplace pension grows to NOK 1,680,507 and pays NOK 129,771 a year for 15 years. The IPS grows to NOK 841,773 and pays NOK 73,587 a year until age 80. Together that is NOK 43,439 a month, or 74% of salary. Without IPS it would be NOK 37,307 a month. From age 82 the workplace pension and IPS are used up and the pension falls to NOK 27,155 a month, all from the State pension.

How the calculator works

• State pension: 18.1% of your pay up to 7.1G is added to your pension balance each year. The balance is divided by a life-expectancy factor (delingstall) when you start drawing. Factors are only set for people born up to 1965, so the calculator uses the 1965 factors for younger people. Future life-expectancy adjustment will probably make actual pensions somewhat lower than shown.
• Workplace pension: the employer's contribution rate applied to salary up to 12G each year until you draw. It is paid out over the period you choose, but for at least 10 years and at least until age 77.
• IPS: up to NOK 25,000 a year, paid out for at least 10 years and at least until age 80.
• Payouts from workplace pension, IPS and savings are equal each year (an annuity) at the same return.
• Not included: pension rights earned in other countries, tax on the pension, and early retirement schemes such as AFP. The guarantee pension assumes full membership of the National Insurance Scheme.

Pension is taxable income, and the amounts above are before tax. To see how much tax you pay on your income while working, use the Norway income tax calculator; to see how holiday pay fits into your year, use the Norway holiday pay calculator.