Norway.
Norway ranked 7th globally with an average total score of 66.
The Norwegian pension system consists of a public pension system, a mandatory occupational system plus personal pension saving provisions. The state pension scheme provides a flat rate basic pension plus an earnings-related supplement that covers all employed and self-employed persons. Occupational pension schemes can be funded through an insurance contract or a pension fund. Historically defined benefit schemes were the dominant form of occupational schemes but new defined contribution schemes are becoming increasingly popular. About 75 percent of private pensions in the Norwegian pension system are funded via insurance contracts. The reviews consisted of two funds supporting the public pension system, two funds managing assets for public employees and the largest corporate pension fund in Norway.
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Norway.
Funds Analysed
Equinor Pension Fund
Equinor Pension Fund is a pension fund covering employees of Equinor, the largest energy company in Norway that also has operations in 30 countries. Equinor was known as Statoil until 2018.
Government Pension Fund Global
Government Pension Fund Global: This global investment fund derives its financial backing from the oil industry and is managed by Norges Bank Investment Management (NBIM), part of the Norwegian Central Bank on the behalf of the Ministry of Finance. It is the largest pension fund in Europe.
Government Pension Fund Domestic
Government Pension Fund Domestic: This fund was established by the National Insurance Act in 1967 under the name National Insurance Scheme Fund. It is managed by Folketrygdfondet and can only invest domestically.
KLP
KLP is a mutual insurance company, established in 1949, responsible for the management of municipal and county pensions and insurance issues.
Oslo Pension Fund (OPF)
Oslo Pension Fund (OPF) provides pension and insurance management services for employees of the City of Oslo and several other public organisations under its jurisdiction.