Norway

Jensen will give everyone in the private sector one pension account for their entire life

Jensen Government proposes unique pension account for every private sector employee. Pension would be collected in a separate account that follows the employee throughout their lives.

1.4 million employees are working currently in the private sector, they receive pensions from different employers throughout their professional life, according to the Ministry of Finance .

“It gives employees more retirement for each saved krone because management becomes more efficient,” says Minister of Finance Siv Jensen (Frp).

It is up to the individual if you want to manage retired pension funds from former employers of the current employer, or if the employee wishes to collect everything from a pension provider that you choose.

The government will also abolish the rule that the employee must have been employed for at least 12 months in order to earn earned earned capital at a job change.

“This gives better pension earnings for employees with short employment,” says Jensen.

According to NHO, this change will cause the companies an additional cost of NOK 300 million, writes DN .

YS leader Erik Kollerud says the government’s proposal is in line with what the employee organization has recorded.

“YS has worked a long time to give employees greater influence and overview of the management of their own pension funds. We are pleased that the government has listened to our input, says Kollerud.

The proposals are now sent to the Storting for consideration.

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