Defined benefit pension scheme

If you were employed before 1 January 2006, you have a defined benefit pension in Telenor Pensjonskasse (TPK). Here you can read more about current guidelines for the defined benefit plan.

All employees who were employed as of 31 December 2005 could choose whether they would switch to a defined contribution pension or maintain the defined benefit plan. Those who are employed after 1 January 2006 will be automatically enrolled in the Nordea deposit scheme.

The benefits from TPK will be:
• Retirement pension from the age of 67 years. (66% of the pension basis at the end of the pension when the assumed national insurance is included). The pension basis constitutes annual salary limited to 12 times the National Insurance Scheme’s basic amount.
• Disability pension if you should be at least 50% disabled. Full disability pension comprises:
A) 25% of G, nonetheless no more than 6% of the individual member’s pension base, and
B) 3% of the individual’s Membership Pension Fund, and
C) 66% of the part of the member’s pension base which is between 6 and 12 G.
The disability pension provides child benefits for each child under the age of 18 that the member is or is obliged to provide. For each child, the child allowance amounts to 4% of the member’s pension base up to 6 G. However, the total child allowance may not exceed an amount equivalent to 12% of the member’s pensionable basis up to
6 G. The child allowance is shortened according to the degree of disability.
Disability pension is coordinated with disability pension from other pension schemes
• Child pension if you die and leave you under the age of 21 years.
• Spouse’s pension if you die and leave your spouse (this will not be continued from 01.01.06, but it may be paid out of the paid-up policy that was earned before this).

Withdrawal

Retirement age, ie the retirement age pension will be 67, but it is possible to choose retirement pension from 62 years.

You can freely combine work and retirement without this reducing retirement pension. This means that you can earn as much as you wish next to full or partial retirement. However, this may have tax consequences, and we encourage the individual to investigate how this will affect their own part.

If you take out a pension in full or in part before the age of 67, the annual payments of old-age pension from the National Insurance will be lower than if you wait for 67 years. This is because the pension you have earned is distributed over several years.

Upword Adjustment

As a result of wage changes, your benefits in the pension fund will also be adjusted. Changes in the National Insurance Fund’s basic amount will also be taken into account. Update of salary is run annually in the member register. Should an insurance case arise, however, consideration will be given to the salary you have at the time a possible pension will be paid.

The pensions that are under payment must be adjusted according to the surplus of pensioners’ surplus funds.

Resignation / leave:
• If you quit Telenor, you will be notified by TPK. The announcement will take place from the day the notice period is over.
• The paid-up policy constitutes so many parts of the annual pension as the accrued membership period amounts to the total membership time, calculated from the date of acquisition and until the retirement age. In addition, you are entitled to a continuation insurance. Upon enrollment, you will receive a separate letter from Telenor Pensjonskasse that reviews this.
• If you have been granted leave from Telenor, you will still be a member of TPK during the leave period, following guidelines set by TPK.
• On expatriation, membership is maintained for up to 10 years.
• If possible. Early retirement, you will be notified of the scheme.

The paid-up policy is a pension entitlement that will be paid out when you retire. It may also include disability pension, spouse and child pension. If you are going to be disabled or die, the dependents` pension cover will be eligible for payment.

The pension assignment from TPK will be sent to you by Digipost at the end of each calendar year. If you have not established a Digipost account, you will receive the document as a regular mail.

Here you can create an account in Digipost

In addition, you will receive a statement by Digipost in June each year on the paid-up policy you have in TPK.

If you have questions about your pension rights in TPK, you can send an e-mail to pensjonskasse@telenor.com.