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One in four Norwegians have never checked their pension

MoneyMoney: Jon Olav Nesvold / NTB scanpix

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One in four Norwegians have never checked their pension,and the low wage earners are overrepresented in that group according to a new survey.

 

The survey, conducted by YouGov on behalf of Danske Bank,shows that of those with a salary below 300,000 kroner per annum, 36% have never checked their pension. By comparison,only 16% of those who earn over NOK 700,000 have never checked their pension.

It is worrying given the retirement system we have in Norway.

According to consumer economist, Anne Motzfeldt of Danske Bank,half a million Norwegians in the private sector only have compulsory occupational pensions with the minimum rate of 2% of wages.

‘’Many of these are low-paid, and the combination of low retirement and low pay means a very low pension for this group. Many Norwegians get a very poor pension without being aware of it,’’ she told NTB news.

Of those under 34 years of age, one in three have never checked their pension, while nine in ten of those over 55 have checked their pension.27% of women have never checked their pension, while the same applies to 19% of men.

 

© NTB scanpix / #Norway Today

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