NORWAY - The Organisation for Economic Cooperation and Development (OECD) was amongst those warning Norway that yesterday's pension reforms would not alleviate unsustainable drains on the country's US$295bn fund.
Norway's pension fund, which is Europe’s largest, has benefited from Norway’s position as the world's third largest oil exporter, but last year it lost almost $1bn through inefficient management.
Prime minister Jens Stoltenberg’s coalition government reached a compromise with the opposition to ensure the reforms would stand the test of time with successive governments.
The new system will count all income when calculating payments and improve the deal for part time workers. Retirees will also be able to work without reducing their pension payments.
This week's edition of Professional Pensions is out now.
Ben Gunnee reflects on 2018 and talks about the Fiduciary Management trends to keep an eye on in 2019
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