occupational pensions in private sector in norway geir veland 17. sep. 2007
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Occupational pensions in private
sector
in Norway
Geir Veland
17. Sep. 2007
The pension market in private sector before 2001 - DC-schemes not allowed -
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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
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DC – market in 2006Members in DC - schemes 2002 - 2006
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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
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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%
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The pension market in 2007 og 2010Number of employees covered (private sector) - estimated in March 07
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Goodbye to DB – schemes in 2015?
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Goodbye ……..
”The last DB – scheme”. 1917 – 2012. You were deeply loved and you will be missed a little bit”
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”
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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:
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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)
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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)
? ??
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Norway to European Championship 2008!
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