Over 900,000 retired pensioners in Norway

Older married couplesOlder married couples on the trip. Photo Norway Today Media

Since the 2011 pension reform, more and more people have opted for early retirement pensions before the age of 67 . Figures from Nav now show that we have over 900,000 retired pensioners in Norway.

The number of pensioners at the end of June 2017 was 906,400, and Nav expects retired people to pass the 1 million mark  in 2021.

“Since the pension reform in 2011, we have seen a sharp increase in the number of early retirement pensioners,” says Ole Christian Lien, Head of Division, in a press release.

According to Lien, there are especially many men who have availed themselves of the option to the early retirement pension . Nevertheless, most women among retired people are living longer than men. At the same time, the post-war cohorts have contributed to the increase.

In the first half of 2011, the number of new retirement pensioners was 51,700. Since then, the number of new retirees has fallen but then levelled out. In the first half of 2016, the number of new retirement pensioners was 34,000, while the corresponding number in 2017 was 33,600.

Nav now expects that the numbers will platau going forward.

– The forecasts are slightly lower than before. This is partly because we have seen a slight decline in the number of people who choose to take early retirement. This has been taken into account in the new forecasts, says Lien.

It may also be that some has lost the opportunity to draw early retirement after raising the minimum rates. There is a requirement for payment at the minimum pension level in order to retire before the age of 67. This could lead to someone who previously had the opportunity to take early retirement, now losing this opportunity, he concludes.


© NTB Scanpix / Norway Today