Petroleum Fund return won't cover future pensions spending

clock •

NORWAY - The return on the NOK1183bn Petroleum Fund will not be enough to cover future spending on old age and disability pensions, according to governor Svein Gjedrem (pictured) of Norges Bank.

In a speech due to be given today on monetary policy and the outlook for the Norwegian economy, Gjedrem is expected to cite Ministry of Finance calculations which state a funding requirement equiva...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Norway

Norway

Norway pension fund loses $52bn in Q3

NORWAY - The Government Pension Fund Global returned -8.8% or -NOK284bn ($52bn) due to stumbling global stock markets, third quarter results show.

Jaishree Kalia
clock 28 October 2011 •
Norway

EDB ErgoGroup settles dispute over DB, DC pension switch

NORWAY - EDB ErgoGroup ASA has agreed to costs totalling some NOK9m ($1.7m) per year to settle a pension dispute with employee unions over its decision to transfer some staffers from a defined benefit to a defined contribution plan.

Raquel Pichardo-Allison
clock 25 August 2011 •
Norway

Norway Global Fund overseer resigns

NORWAY - The Ministry of Finance has confirmed that Martin Skancke has resigned his position as head of the department overseeing the Government Pension Fund Global.

Jonathan Boyd
clock 25 August 2011 •
Trustpilot