Saving for a pension

Get started saving for a pension early and you’ll have more to live off in the future. We can help you get started.

Start saving for a pension
Collect all your pension capital certificates in one place
Get a full overview of your pension in the savings app Spare

Self-elected pension account

Save for a pension in mutual funds

Save for a pension in individual pension savings (IPS)

How to get started with saving for a pension?

Your pension is the money you will live on in the future. The National Insurance Scheme contributes one part, the employer contributes one part and you need to save the rest yourself. There are many ways to save for your pension. You need to find the way that suits you best. Things to bear in mind:

How long are you going to save for?
How many shares and fixed-income securities are you comfortable having in your savings?
How much are you able to set aside per month?
Do you want to tie up your savings until you retire?

Three simple steps to get started:

Investment video in Spare KAKE 5000x3840

1. Download the Savings app Spare

Spare gives you an overview of all parts of your pension, that your employer has saved for you and that you save yourself, all in one place.

Download Spare now

2. Assess pension profile

Consider whether you have the right proportion of shares in the pension savings you have with your employer. You have the option to make changes that can make a big difference to what you will receive.

Change pension profile here

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3. Start regular savings

Decide how much you want to save per month and start saving in the savings app Spare.

Download Spare

Save for a pension in mutual funds

There are many ways to save for your pension, and saving in mutual funds is one option. You don’t get a tax asset on savings, but you have the flexibility to withdraw the money when you want and can choose from our broad range of mutual funds.

Start saving for a pension in pension funds

DNB Lev Mer are the funds that are customised for saving for a pension. Here you’ll get a good mix of shares and interest rates to suit your age.

Save for a pension in individual pension savings (IPS)

When saving in mutual funds in Individual pension savings (IPS), the money is tied up, and you can start disbursements when you reach the age of 62. The advantage of IPS (individual pension savings) is that you get deferred taxes.

Saving for a pension based on age

What should I be thinking about when I’m under the age of 35?

Even if you only save one hundred kroner a month, it’s much better than nothing. The most important thing is that you get started on saving for your pension early.

The pension that the employer saves for you is often placed in a pension profile that can consist of shares and fixed-income securities Since you will not be retiring for many years, you can choose a pension profile with a lot of shares. Read more about pension profiles here

The important thing is that you stick to your strategy, both in terms of your pension profile and your monthly savings, even if there is anxiety in the equity market. This is when you have the opportunity to get a return on your money that is saved for your pension, and it can give you a good return over time.

What should I be thinking about when I am between the ages of 45 and 55?

Saving for a pension is now starting to become important, and if you haven’t started, you should start saving for a pension now. You should investigate how much you will receive as a pension. If you want to retire early, you need to start looking at how this will affect your overall pension in the years to come. Many people see that they have to increase their savings substantially in order to afford to retire early.

Get a complete overview of the pension scheme from your employer. In this phase you have the opportunity to adjust your savings to ensure your retirement is the way you want it. If you’re changing jobs, it’s especially important to make a thorough assessment of the pension schemes. If you come off worse, you should make sure you are compensated for this with a higher salary. If you get a higher salary due to a smaller pension scheme, you must remember to set aside more money for your own pension savings.

Many couples want to retire at the same time, even if they’re not the same age. If you’d like to retire at the same time, it’s especially important to see how this will affect your finances.

Look at your savings schemes to see if you’re on the right path based on the retirement age you’re planning. If you need to make changes in order to get a lower proportion of equities, see whether you need to adjust this yourself or whether it happens automatically.

What should I be thinking about when I am between the ages of 35 and 45?

Many people are eventually able to put a little more into their savings during this phase of their lives. Start by getting an overview of how much you get in your pension. The earlier you start saving for a pension, the less you need to set aside. Remember that it is better to start with a low amount than to not start at all.

Retirement is still a long way off, so it can be a good idea to invest most of your pension savings in shares. You may then be able to get a better return on your money, even if the values fluctuate along the way. Remember to stick to your plan, and continue to save even when there’s anxiety in the stock market. This way you’ll get the best return on your money in the long run.

Ask your employer how much has been aside for saving for a pension for you, and whether you can make your own choices in the pension scheme. If you change jobs, you should remember to check the pension scheme. The differences are significant and if you get a smaller pension, you should be compensated with a higher salary.

What should I be thinking about when I’m over the age of 55?

You should now have formed a clear picture of what your finances will be like as a pensioner. Many people choose to transition gradually towards the end of their professional career, and you should look at how this would affect your pension. Retiring with a pension before 67 years of age gives you lower pension entitlements in both the National Insurance Scheme and the pension from your employer. In addition, if you draw your retirement pension early, you will receive a lower annual retirement pension as the payments are distributed over several years.

If you’re thinking of retiring before you turn 67, we hope you’ve already planned this well. Remember that you must have earned a large enough pension in the National Insurance Scheme in order to be able to leave before the age of 67. It is also important that you check whether you are entitled to a contractual early retirement pension. If you are unsure, you can check this with the NAV (the Norwegian Labour and Welfare Administration).

When you have reached the age of 62, you can draw a full or partial pension. You can therefore choose to draw a pension while continuing to work. If you choose to combine work and pension, this can affect the tax on your pension income. Find out the tax rules and what your finances will look like if you combine working and a pension.

You can now consider reducing the proportion of your pension savings invested in shares for both your private scheme and your defined-contribution pension, if you have one through your employer. Check whether this can be done gradually and automatically or if it is something you have to do yourself.

Get the most out of your pension

With a pension account at DNB, you get a large selection of mutual funds and can choose between several pension profiles. In addition, our pension advisers help you get the most out of your pension.

If you want to move your pension account to DNB, you do this by creating a Pensjonskonto Flex (flexible pension account). We’ll collect your Pension Account from where it is today, and all future deposits will go directly to it. Pensjonskonto Flex gives you access to a large investment universe. You must then switch to Pensjonskonto Flex yourself.

Self-elected pension account

Pension expert Stian gives advice on saving for your holiday

Pension expert Stian will explain how you can become a pension millionaire.

Historical returns are no guarantee of future returns. Future returns will depend, among other things, on market developments, the skill of the Portfolio Manager, the mutual fund’s risk, and the management costs. Returns may be negative as a result of mark-to-market losses.

Saving for a pension

How to get started with saving for a pension?

Three simple steps to get started:

1. Download the Savings app Spare

2. Assess pension profile

3. Start regular savings

Save for a pension in mutual funds

Start saving for a pension in pension funds

Save for a pension in individual pension savings (IPS)

Saving for a pension based on age

Get the most out of your pension

Pension expert Stian gives advice on saving for your holiday

Pensions

Saving for a pension

Pension profile

Move pension to DNB

Own pension account

Self-elected pension account

Pensions calculator

Individual pension savings (IPS),

Pension capital certificate

paid-up policies

Garanti Livrente

Plan your pension

Survivor’s pension

My pension

Saving for a pension

How to get started with saving for a pension?

Three simple steps to get started:

1. Download the Savings app Spare

2. Assess pension profile

3. Start regular savings

Save for a pension in mutual funds

Start saving for a pension in pension funds

Save for a pension in individual pension savings (IPS)

Saving for a pension based on age

Get the most out of your pension

Pension expert Stian gives advice on saving for your holiday

Pensions

Saving for a pension

Pension profile

Move pension to DNB

Own pension account

Self-elected pension account

Pensions calculator

Individual pension savings (IPS),

Pension capital certificate

paid-up policies

Garanti Livrente

Plan your pension

Survivor’s pension

My pension