Own Pension Account Flexible

All employees in the private sector are included in the Own pension account scheme. Employees with an active defined contribution pension may opt for Own pension account flexible at Storebrand. 

Establishing an Own pension account flexible in Storebrand is free of charge. The price you pay will depend on which investment choices you make. You decide for yourself whether you want to choose an index fund with a low price, or whether you want active management at a higher cost. If you choose an Own pension account flexible in Storebrand, you will be compensated an amount corresponding to what your employer pays today.

Example:
Your defined contribution pension has a holding of NOK 500,000. Through your agreement, your employer pays 0.6% to the pension provider they have chosen. If you choose an index fund with a lower management cost, for example 0.2%, the difference is 0.4%. You will be compensated for the difference, which in this example amounts to NOK 2,000 more per year in your pension account.

Your own pension account is bought and managed by the company you work for. The company chooses a pension provider and the savings selection. Most companies choose to have a limited selection. If you do not do anything, you get the scheme the employer chooses for the employees. If, on the other hand, you want to make your own choices and select several different options, Own pension account flexible may be a good choice.

With your Own pension account flexible in Storebrand, you get access to a good savings selection. We offer both our own active funds and index funds, and profiles and funds from other suppliers. Our specialists carefully assess the savings selection.

Complete overview of our funds on Own pension account flexible (text in Norwegian)

If you choose Own pension account flexible in Storebrand, your pension account will be compensated with an amount corresponding to what your employer pays today.

• Find your costs at Norsk Pensjon
• Choose funds from Storebrand's fund universe
• If you choose funds with lower costs than what your employer pays, you will gain a profit.

• Defined contribution schemes
• Pension capital certificates
• Individual pension saving (IPS) discontinued 1.11.2017
• Individual pension scheme (IPA)

Log in to norskpensjon.no to find out what the employer pays.

With your Own pension account flexible in Storebrand, you pay management costs for your investment choice, but you will receive a monthly «standard compensation» from your employer. This compensation will cover the management fee for the pension portfolio earned in your current employment. The compensation corresponds to the management fee the employer would pay on the «standard solution» for an own pension account for the employees. You do not receive compensation for the management fee related to savings value from previous employment.

Your employer deposits the same monthly pension savings as if you had remained in the employer's pension scheme. Transfer to your account is automatic.

In Storebrand, we offer funds, not ETFs (Exchange Traded Funds). There are many similarities between these, but also some major differences. Below you will find some points you should be aware of.

Trade, costs and investments:

When buying a fund, you make a payment to us, and you are usually allocated units in the fund at a market value the day after the purchase. Buying and selling funds with us is free of charge. You buy ETFs in the same way as a share, i.e. over the stock exchange. When you trade ETFs, there is often a cost associated with the trade itself (brokerage). ETFs may be denominated in a currency other than NOK, and costs associated with the purchase and sale of currency exchange may arise. The ETFs are largely linked to an index and have low annual management costs. Among the funds, you will find both index and active, with both low and higher annual management costs.

Risk:

Several ETFs have mortgages included, which can increase the risk significantly. AksjeNorge writes, among other things, that: "ETFs are a kind of exchange-traded index fund. This is considered a complex investment product and many of these have a form of gearing that entails a significantly higher risk of loss."