![Page 1: Occupational pensions in private sector in Norway Geir Veland 17. Sep. 2007](https://reader036.vdocument.in/reader036/viewer/2022070405/56813cec550346895da6974e/html5/thumbnails/1.jpg)
1
Occupational pensions in private
sector
in Norway
Geir Veland
17. Sep. 2007
![Page 2: Occupational pensions in private sector in Norway Geir Veland 17. Sep. 2007](https://reader036.vdocument.in/reader036/viewer/2022070405/56813cec550346895da6974e/html5/thumbnails/2.jpg)
The pension market in private sector before 2001 - DC-schemes not allowed -
2
![Page 3: Occupational pensions in private sector in Norway Geir Veland 17. Sep. 2007](https://reader036.vdocument.in/reader036/viewer/2022070405/56813cec550346895da6974e/html5/thumbnails/3.jpg)
3
DC-market in 2005Members in DC - schemes 2002 - 2005
Kilde: FNH
0
20000
40000
60000
80000
100000
120000
140000
2002 2003 2004 2005
13113
46985
81623
130625
![Page 4: Occupational pensions in private sector in Norway Geir Veland 17. Sep. 2007](https://reader036.vdocument.in/reader036/viewer/2022070405/56813cec550346895da6974e/html5/thumbnails/4.jpg)
4
DC – market in 2006Members in DC - schemes 2002 - 2006
![Page 5: Occupational pensions in private sector in Norway Geir Veland 17. Sep. 2007](https://reader036.vdocument.in/reader036/viewer/2022070405/56813cec550346895da6974e/html5/thumbnails/5.jpg)
5
A shift from DB to DCNumber of employees covered. 2002 - 2006
774 companies changed their DB-scheme into a DC-scheme in 2006, and included about 15 000 employees.
Not included: company pension funds
![Page 6: Occupational pensions in private sector in Norway Geir Veland 17. Sep. 2007](https://reader036.vdocument.in/reader036/viewer/2022070405/56813cec550346895da6974e/html5/thumbnails/6.jpg)
6
The industry sector: do they want to change their DB-schemes?
Norsk Industri (årsskiftet 05/06)
31 percent of the companies in the industry sector have either decided or have plans to change their DB-scheme. Cover about 30 percent of the employees.
Change in pension level
19%
Change in insurance
products
27%
From DB to DC (closing, combined schemes)
84%
Other changes 27%
![Page 7: Occupational pensions in private sector in Norway Geir Veland 17. Sep. 2007](https://reader036.vdocument.in/reader036/viewer/2022070405/56813cec550346895da6974e/html5/thumbnails/7.jpg)
7
The pension market in 2007 og 2010Number of employees covered (private sector) - estimated in March 07
![Page 8: Occupational pensions in private sector in Norway Geir Veland 17. Sep. 2007](https://reader036.vdocument.in/reader036/viewer/2022070405/56813cec550346895da6974e/html5/thumbnails/8.jpg)
8
Goodbye to DB – schemes in 2015?
![Page 9: Occupational pensions in private sector in Norway Geir Veland 17. Sep. 2007](https://reader036.vdocument.in/reader036/viewer/2022070405/56813cec550346895da6974e/html5/thumbnails/9.jpg)
9
Goodbye ……..
”The last DB – scheme”. 1917 – 2012. You were deeply loved and you will be missed a little bit”
![Page 10: Occupational pensions in private sector in Norway Geir Veland 17. Sep. 2007](https://reader036.vdocument.in/reader036/viewer/2022070405/56813cec550346895da6974e/html5/thumbnails/10.jpg)
Or?
Is it possible to construct a new kind of a DB – scheme which can lead the market into –
”the new DB-road”?
The road has to be built before it is too late
If no action is taking place, the DB – schemes will suffer ”a silent death”
10
![Page 11: Occupational pensions in private sector in Norway Geir Veland 17. Sep. 2007](https://reader036.vdocument.in/reader036/viewer/2022070405/56813cec550346895da6974e/html5/thumbnails/11.jpg)
11
What happens internationally?
UK LATEST NEWS: Two-thirds of final salary pension schemes
in private sector now closed to new employees (22.02.07).
2005:
![Page 12: Occupational pensions in private sector in Norway Geir Veland 17. Sep. 2007](https://reader036.vdocument.in/reader036/viewer/2022070405/56813cec550346895da6974e/html5/thumbnails/12.jpg)
12
Internationally cont. USA
1978: 128 000 DB-schemes og 315 000 DC-schemes 1997: 59 000 DB-schemes og 660 000 DC-schemes The development continues (big companies in front). Example:
Armonk, NY - 05 Jan 2006: IBM today announced that it has changed its U.S. defined benefit pension
plans and that it plans to redesign its 401(k) savings plan, effective in January 2008.
Sweden DB-schemes on its way out, including public sector
Denmark DB-scheme – what is that? Civil servants
International: DC-schemes replaces DB-schemes
(exception: The Netherlands – from final salary to average salary)
![Page 13: Occupational pensions in private sector in Norway Geir Veland 17. Sep. 2007](https://reader036.vdocument.in/reader036/viewer/2022070405/56813cec550346895da6974e/html5/thumbnails/13.jpg)
13
Now what? Will the changes in the pension market affect the relation between the social partners? Where are we going?Fellesordning:
Tariffavtale: Nei Ja
Nei Dagens ordninger –ytp,itp
NHO-ordning
Ja MBL,
Posten
Telenor m.fl
Ikke i Norge
(KLP)
? ??
![Page 14: Occupational pensions in private sector in Norway Geir Veland 17. Sep. 2007](https://reader036.vdocument.in/reader036/viewer/2022070405/56813cec550346895da6974e/html5/thumbnails/14.jpg)
14
Norway to European Championship 2008!