Skip to main content
DNB Logo
Search
To Your pension
  • Become a corporate customer
  • Help and advice
  • Make an appointment
  • Find your DNB branch

Footer navigation

©

DNB Logo

Defined-contribution pension

A good defined-contribution pension is a form of security for your employees and ensures that your company is competitive when recruiting in the future.

Image of two men smiling at each other in the office
  • Easy to administer

  • Defined-contribution pension is the most common pension scheme

I would like to receive an offer

How does a defined-contribution pension work?

A defined-contribution pension scheme for businesses provides a simple way to ensure statutory saving. The scheme also gives the company the right to a tax deduction.

All employees who have turned 13 years of age must be enrolled into a pension agreement, regardless of the FTE fraction. This also applies to seasonal workers, substitutes and hourly wage earners.

You can choose a deposit between 2 per cent and 7 per cent of the employees’ salaries up to 12G. An additional deposit of up to 18.1 per cent can also be given if the employee has a salary between 7.1 – 12G.

Investment choice

In DNB, your defined-contribution pension will be managed safely, sustainably and responsibly in Norway’s largest pension management environment.

When launching a pension agreement as a business owner, you can choose a starter profile. The employee can then easily change their own pension profile in the online bank or savings app Spare.

Terms and conditions

Defined-contribution pension (PDF, file.anchor.en.label)Open the file in a new tab

Your businesses must have a defined-contribution scheme if:

  • Two employees who have at least 75 per cent positions.
  • One employee without an ownership interest who has at least 75 per cent positions.
  • Employees who each have at least 20 per cent positions, and who together constitute two FTEs or more.
  • For self-employed people, different rules apply. Read more here

Statutory minimum requirements for pension savings:

  • You must save at least 2 per cent of the employee’s salary up to 12G. (G stands for the National Insurance basic amount)
  • The agreement must include a retirement pension and a waiver of contribution should they become incapacitated for work. The waiver of contribution ensures that the pension savings will continue even if the employee becomes incapacitated for work.

Who should be registered for the pension scheme?

Employees

All employees who are at least 13 years old must be registered from the first day. This also applies to employees who are foreign citizens provided they are members of the Norwegian National Insurance Scheme, as well as those with a temporary social security number (D-number).

Employees aged over 75 can be kept outside of the agreement. In this case, this must be specified in the pension scheme’s legal agreement.

Apprentices

Apprentices who have signed apprenticeship contracts with the business are covered by the pension scheme in the same way as other employees.

Temporary employees

All substitutes must be registered, regardless of the FTE fraction.

Summer substitutes should be registered as above, and salary/FTE fraction corrected just before they are withdrawn.

Seasonal workers

All seasonal workers must be registered, regardless of the FTE fraction.

Basic amount (G)

as of 1 May 2025 is NOK 130 160.

How to transfer your pension from another bank

Do you have a pension agreement with another bank? Banking and pensions are closely linked. If you transfer your pension to us, you will get a full overview through the internet bank.

Send us an authorisation so we can obtain information about your current pension agreement and give you a non-binding offer.

FAQ about defined-contribution pensions

How is the defined-contribution pension built up?

The defined-contribution pension consists of two parts:

Retirement pension

Monthly savings for a future pension for each individual employee. The company itself decides how much will be saved, but the minimum is 2 per cent of each individual employee’s salary up to 12G. The chosen contribution rate must apply for all employees, irrespective of salary, position and length of service.

Waiver of contribution

An insurance that covers future monthly payments for employees who are declared incapacitated for work.

How are the deposits/savings invested?

Every single employee gets their own pension account in DNB. The deposits are invested in a starter profile.

The employee can choose a higher or lower proportion of equities themselves. In our profiles, the proportion of equities is high at a young age and is gradually reduced the older you get.

Are defined-contribution pensions a statutory requirement for company owners?

No, the business owners can choose not to take part in the scheme.

When deciding whether the company will purchase the compulsory occupational pension, the owner/self-employed person must nonetheless be included in the number and with their FTE fraction.

When the pension scheme is purchased, the owner/self-employed person can still choose not to take part in the scheme.

How do I keep my employees informed?

The Pension Journey - We help your employees

A good pension scheme is important for employees and the Pension Journey is a perfect way to highlight it. Many employees don’t know which pension scheme they have and how much is being saved for their future. The Pension Journey will also answer many questions.

All businesses that have a defined-contribution pension with us get the Pension Journey automatically and completely free of charge. The concept is under continuous development.

More questions and answers

Our pension products

  • Defined-contribution pension

    One of the best benefits you can give your employees

  • Pension and insurance package

    Package covering the statutory requirements

  • Disability pension

    Ensures payment in the event of long-term illness or disability

  • Executive pension

    Give managers and key staff the pension they deserve

  • Pensions for those who are self-employed

    Ensure saving towards your pension

Pension provider

The pension agreement is provided by DNB Livsforsikring AS.