Pension is what we will live on when we can no longer work. Retirement 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.

Retirement pension

Old-age pension from the National Insurance Scheme is a scheme that ensures you income in old age. You can start receiving old-age pension after you turn 62 years old. To receive old-age pension before you turn 67, you must have sufficient pension rights accrued. You are free to 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 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.

Agreement-based pension - AFP

Agreement-based early retirement pension (AFP) in the private sector is a collective agreement-based pension scheme. This means that AFP is a pension scheme that only includes those working in companies with a collective agreement that includes AFP. AFP in the private sector is a lifelong pension that you can start drawing from when you turn 62 years old, provided the conditions are met.
Would you like to take out AFP, you must also take out old-age pension from the National Insurance Scheme (partially or fully). Just like old-age pension from the National Insurance Scheme, you can take out AFP while continuing to work.

Read more about AFP here.