How does the Norwegian state pension work?

The NAV old-age pension (alderspensjon) builds a pension entitlement (pensjonsbeholdning) each year equal to 18.1% of your pensionable income, counted up to 7.1 times the basic amount (G). At retirement the accumulated entitlement is divided by a longevity factor (delingstall) to give an annual pension, so retiring later raises the yearly amount.

What is OTP / tjenestepensjon?

OTP (obligatorisk tjenestepensjon) is the mandatory occupational pension. Every employer must pay at least 2% of salary into a pension fund for employees, and many pay more. It is a defined-contribution pot that grows with investment returns and is paid out on top of the NAV pension.

What is the basic amount (G)?

G (grunnbeløpet) is a reference figure set annually by the government and used throughout the Norwegian social-security system. State-pension accrual only counts income up to 7.1 G, so very high earners stop building NAV entitlement above that ceiling. Enter the current G value to keep the cap accurate.

When can I retire in Norway?

Flexible retirement is possible from age 62, but drawing earlier spreads the same entitlement over more years and lowers the annual amount. Waiting until 67 or later raises it. This tool lets you pick a retirement age and applies an approximate longevity divisor accordingly.

Does this calculator store my data?

No. All calculations run locally in your browser and nothing is uploaded, so your figures stay private.

Norway Pension & Retirement Calculator

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This Norway pension calculator projects your retirement income from the two pillars of the Norwegian system: the NAV state pension (alderspensjon) and the mandatory occupational pension (OTP / tjenestepensjon), plus any voluntary savings.

How it works

The state pension builds an entitlement each year:

yearly NAV accrual = min(income, 7.1 × G) × 18.1%

These accruals add up across your career into a pension entitlement (pensjonsbeholdning). At retirement it is converted to an annual pension by dividing by a longevity factor (delingstall) — roughly the number of years you are expected to draw it — so retiring later increases the yearly figure.

The occupational pension is a defined-contribution pot:

Each year your employer pays the OTP percentage (minimum 2%) of salary in, plus any voluntary savings.
The pot grows at your assumed return, then is annuitised over your retirement years.

The two streams are added to give your projected annual pension.

Example

On a 600,000 kr salary with G at 124,000 kr, the 7.1 G ceiling is about 880,000 kr, so the full salary counts. The yearly NAV accrual is 600,000 × 18.1% = 108,600 kr of entitlement. Over a long career that entitlement, divided by a delingstall of about 18, plus an OTP pot at 5% contributions, can produce a comfortable combined pension.

Notes

This is a simplified projection. It approximates the delingstall, ignores the guarantee pension (garantipensjon) for low earners, AFP top-ups, and the indexing of past accruals to wage growth. Use it for direction, then check your detailed forecast on the NAV “Din pensjon” service.