Pension is what we will live on when we can no longer work. Old-age pension from the National Insurance Scheme is our most important pension scheme. In addition, there are occupational pension schemes paid by the employer and individual pension arrangements.

Old-age pension

Old-age pension from the National Insurance Scheme is a scheme that ensures you income in old age. You can start taking out old-age pension after you turn 62. To take out old-age pension before you turn 67, you must have sufficiently high accrual. You can freely combine old-age pension with work without the pension being reduced.

You can read more about old-age pension here.

Mandatory occupational pension

The most important pension scheme in the private sector is the mandatory occupational pension (OTP). The Act on Mandatory Occupational Pension in private employment came into force on January 1, 2006.

More information about mandatory occupational pension (OTP) can be found atregjeringen.no.

Contractual Pension - AFP

Contractual Pension (AFP) in the private sector is a tariff-based pension scheme. That means AFP is a pension scheme that only covers those who work in companies with a tariff agreement under which AFP applies. AFP in the private sector is a lifelong pension that you can start drawing from when you turn 62, provided the conditions are met.
If you wish to take out AFP you must also take out old-age pension from the National Insurance (fully or partially). Just like old-age pension from the National Insurance, you can take out AFP while continuing to work.

Read more about AFP here.