Pensioners are the decade’s wages winners

pensioner pension indexRetired and enjoying the life. Photo: Norway Today Media

Between 2004 and 2014 the income development corrected for inflation, shows a growth of 45 percent for pensioners (age 62+) compared to just over 30 percent for employees during the same period, according to new estimates from the government.

The parliament informs that the social security report will be presented by the government at the Council of State meeting on Friday.

Whatever income group, the pensioners had a stronger purchasing power than the employed during the period, however the increase has been greatest for retirees with the highest total income.

 Not included

Government calculations do not include figures from the last two social security adjustments, which provide a reduction in the purchasing power for most of the country’s pensioners.

– Calculations are based on SSB statistics on total income, and there is no updated figures since 2014, informs the Department of Labour and Social Affairs to NTB news agency.

None of the pensioners organizations chose to sign the social security adjustment when it was presented in May.

Pensioners’ Association leader Jan Davidsen was “disappointed and angry” over an increase in the pension of NOK 4,600 kroner, which according to the government’s own calculations will give all groups a reduction in purchasing power this year.

Purchasing power development, incidentally also seems to be a reduction for all wage earners this year, which was also the case for selected groups in 2015.


Source: NTB scanpix / Norway Today