Pension reform – Safeguarding Our Pensions

Today, the Government presents a white paper to Stortinget (the Parliament) on reform of the Norwegian pension system. The report is based on the work carried out by the Pension Commission, which submitted its recommendations on 13 January 2004, cf. NOU 2004: 1 Modernising the National Insurance Scheme - Sustainable Pensions for the Future.

The Minister of Finance, Mr. Per Kristian Foss, says in a comment that the Government’s proposal builds on the basic principles proposed by a broad majority in the Pension Commission. This forms a good basis for a reform that ensures financial protection in old age on the part of the individual, whilst also attending to society’s need for a sustainable pension system with clear work incentives.

The Minister of Labour and Social Affairs, Mr. Dagfinn Høybråten, says in a comment that the Government is committed to the continuation of the National Insurance Scheme as the main element in the welfare state, and that the National Insurance Scheme will remain a public pension system with a good redistribution profile also in the future.

An English summary of the report can be found on the web-site www.pensjonsreform.no.