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Many women save for their own pensions

Savings pensionsA penny saved is a penny earned. Photo: Pixabay.com

Many Norwegian women save for their own pensions

Last year, around NOK 1.8 billion was paid in the new pension savings scheme, IPS. Finans Norge is pleasantly surprised by the large proportion of women.


Both women and men make use of IPS, which was introduced in November 2017. A total of 47% of those aged between 40 and 60 who save in the scheme are women.

“We are pleasantly surprised by how many women make use of the possibility of saving for their own pension,” said Stefi Kierulf Prytz,
director of life insurance and pension in Finans Norge.

The new statistics from Finans Norge and the Norwegian Securities Funds Association show that NOK 3.2 billion has been saved in IPS, where up to NOK 40,000 can be set aside annually.

The statisics from Finans Norge and the Norwegian Securities Funds Association show that NOK 3.2 billion has been saved in IPS, where up to NOK 40,000 can be set aside annually.

People of all ages

All ages save in IPS. The average savings amount is increasing with age. On average, people over the age of 60 save just under NOK 25,000 per year.

Those aged 30 to 60 account for about 80% of the saved funds in the scheme. Those who are 50 to 60 years old save the most and account for about a third of what is saved in IPS.

“The pension reform has made the individual himself/herself to make his/her own choices and adapt to the pension system individually. We are therefore pleased that good stimuli for private and individual pension savings are mentioned specifically in the new Government declaration,” said Prytz.


© NTB Scanpix / #Norway Today
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