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Norwegian Public Service Pension Fund
Norwegian Public Service Pension Fund ( no, Statens Pensjonskasse) is a Norwegian government agency responsible for the extra pensions paid to state employees. There are in excess of one million members, and it has total assets of NOK 270 billion. All state employees are granted an extra pension of 2% of their gross wages, paid from 67 years of age. Municipal and county employees have their extra pensions managed by Kommunal Landspensjonskasse Kommunal Landspensjonskasse Gjensidig Forsikringsselskap or KLP is an Oslo-based mutual insurance company that manages the pensions of municipal employees in Norway. As of 31 March 2021, the fund had assets of NOK 813.5 billion (US$95.1 billio ... (KLP). The Pension Fund also manages the extra pensions from a number of government-owned enterprises. See also * Pensions in Norway Government agencies of Norway Financial services companies of Norway 1917 establishments in Norway {{europe-bank-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Etat
(pl. ) is a Norwegian state, county or municipal agency. An is a subdivision of the administration which has been given responsibility for a special area. An agency does not have a board of directors, but it does have a director, appointed by the subordinate organization. Normally decisions made by the agency can be appealed to the higher body. State agencies are subordinate to one particular ministry, and appeals are made to the Minister. As part of the parliamentary oversight and supervisory activities, Parliament has four independent agencies: the Auditor General of Norway, the Parliamentary Commissioner for the Armed Forces, the Parliamentary Ombudsman (for Public Affairs), and the Parliamentary Intelligence Oversight Committee. Government agencies are often given names ending in ''directorate'', '' inspectorate'', ''administration'' () or ''authority''. Among the organisations organised as agencies are the universities and colleges. All government agencies are a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oslo
Oslo ( , , or ; sma, Oslove) is the capital and most populous city of Norway. It constitutes both a county and a municipality. The municipality of Oslo had a population of in 2022, while the city's greater urban area had a population of in 2019, and the metropolitan area had an estimated population of in 2021. During the Viking Age the area was part of Viken. Oslo was founded as a city at the end of the Viking Age in 1040 under the name Ánslo, and established as a ''kaupstad'' or trading place in 1048 by Harald Hardrada. The city was elevated to a bishopric in 1070 and a capital under Haakon V of Norway around 1300. Personal unions with Denmark from 1397 to 1523 and again from 1536 to 1814 reduced its influence. After being destroyed by a fire in 1624, during the reign of King Christian IV, a new city was built closer to Akershus Fortress and named Christiania in honour of the king. It became a municipality (''formannskapsdistrikt'') on 1 January 1838. The city ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Norway
Norway, officially the Kingdom of Norway, is a Nordic country in Northern Europe, the mainland territory of which comprises the western and northernmost portion of the Scandinavian Peninsula. The remote Arctic island of Jan Mayen and the archipelago of Svalbard also form part of Norway. Bouvet Island, located in the Subantarctic, is a dependency of Norway; it also lays claims to the Antarctic territories of Peter I Island and Queen Maud Land. The capital and largest city in Norway is Oslo. Norway has a total area of and had a population of 5,425,270 in January 2022. The country shares a long eastern border with Sweden at a length of . It is bordered by Finland and Russia to the northeast and the Skagerrak strait to the south, on the other side of which are Denmark and the United Kingdom. Norway has an extensive coastline, facing the North Atlantic Ocean and the Barents Sea. The maritime influence dominates Norway's climate, with mild lowland temperatures on the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services
Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, consumer-finance companies, stock brokerages, investment funds, individual asset managers, and some government-sponsored enterprises. History The term "financial services" became more prevalent in the United States partly as a result of the GrammLeachBliley Act of the late 1990s, which enabled different types of companies operating in the U.S. financial services industry at that time to merge. Companies usually have two distinct approaches to this new type of business. One approach would be a bank that simply buys an insurance company or an investment bank, keeps the original brands of the acquired firm, and adds the acquisition to its holding company simply to diversify its earnings. Outside the U.S. (e.g. Japan), non-fina ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Labour (Norway)
The Royal Norwegian Ministry of Labour and Social Affairs ( no, Arbeids- og sosialdepartementet) is a Norwegian ministry established in 1916. It is responsible for the labour market, the working environment, pensions, welfare, social security, integration, immigration, asylum, minorities and the Sami. Since 24 January 2020 the department has been led by Torbjørn Røe Isaksen ( Conservative Party). Name history * 1 September 1885–22 February 1946: Norwegian Ministry of Labour * 20 December 1948–31 December 1989: Norwegian Ministry of Local Government and Labour (see Ministry of Local Government and Regional Development) * 1 January 1998–1 October 2004: Norwegian Ministry of Labour and Government Administration (see Ministry of Government Administration, Reform and Church Affairs) * 1 January 2006–31 December 2009: Norwegian Ministry of Labour and Social Inclusion * 1 January 2010–2013: Norwegian Ministry of Labour *2014 –: Norwegian Ministr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Norwegian Government Agencies
The Government agencies of Norway are state controlled organizations that act independently to carry out the policies of the Government of Norway. The Government Ministries are relatively small and merely policy-making organizations, allowed to control agencies by policy decisions but not by direct orders. A Minister is explicitly prohibited from interfering with the day-to-day operation in an agency or the outcome in individual cases. While no minister is allowed to give orders to agencies personally, they are subject to decisions made by the Government. Also, the Minister is normally the instance of appeals of agencies decisions. Agencies are organised as etater. Still, some of the work of the government is carried out through state enterprises or limited companies. For a full list of enterprises and companies, see List of Norwegian government enterprises. Storting *Office of the Auditor General of Norway, or ''Riksrevisjonen'' (auditor of all state accounts) *Norwegian Parlia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pension
A pension (, from Latin ''pensiō'', "payment") is a fund into which a sum of money is added during an employee's employment years and from which payments are drawn to support the person's retirement from work in the form of periodic payments. A pension may be a "defined benefit plan", where a fixed sum is paid regularly to a person, or a " defined contribution plan", under which a fixed sum is invested that then becomes available at retirement age. Pensions should not be confused with severance pay; the former is usually paid in regular amounts for life after retirement, while the latter is typically paid as a fixed amount after involuntary termination of employment before retirement. The terms "retirement plan" and "superannuation" tend to refer to a pension granted upon retirement of the individual. Retirement plans may be set up by employers, insurance companies, the government, or other institutions such as employer associations or trade unions. Called ''retirement plans ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Norwegian Krone
The krone (, abbreviation: kr (also NKr for distinction); code: NOK), plural ''kroner'', is currency of the Kingdom of Norway (including Svalbard). Traditionally known as the Norwegian crown in English. It is nominally subdivided into 100 '' øre'', although the last coins denominated in øre were withdrawn in 2012. The krone was the thirteenth-most-traded currency in the world by value in April 2010, down three positions from 2007. The Norwegian krone is also informally accepted in many shops in Sweden and Finland that are close to the Norwegian border, and also in some shops in the Danish ferry ports of Hirtshals and Frederikshavn. Norwegians spent 14.1 billion NOK on border shopping in 2015 compared to 10.5 billion NOK spent in 2010. Border shopping is a fairly common practice amongst Norwegians, though it is seldom done on impulse. Money is spent mainly on food articles, alcohol, and tobacco, in that order, usually in bulk or large quantities. This is due to consid ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Municipalities Of Norway
Norway is divided into 11 administrative regions, called county, counties (''fylker'' in Norwegian, singular: ''fylke''), and 356 municipality, municipalities (''kommuner/-ar'', singular: ''kommune'' – cf. Municipality#communes, communes). The capital city Oslo is considered both a county and a municipality. Municipalities are the atomic unit of local government in Norway and are responsible for primary education (until 10th grade), outpatient health services, senior citizen services, unemployment and other social services, zoning, economic development, and municipal roads. Law enforcement and Church of Norway, church services are provided at a national level in Norway. Municipalities are undergoing continuous consolidation. In 1930, there were 747 municipalities in Norway. As of 2020 there are 356 municipalities, a reduction from 422. See the list of former municipalities of Norway for further detail about municipal mergers. The consolidation effort is complicated by a n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
County Municipality (Norway)
A county municipality ( no, Fylkeskommune) is a Norwegian public elected body that is responsible for certain public administrative and service tasks within a county. Each county consists of county municipality, with the exception of Oslo, which is both a municipality and a county municipality. The main responsibility of the county municipalities are upper secondary schools, dental care, public transport, county roads, culture, cultural heritage management, land use planning and business development. Each county council main body is the county council (''fylkesting''), elected by direct election by all legal residents every fourth year. The next election will be held in 2019. The county councils typically have 30-50 members and meet about six times a year. They are divided into standing committees and an executive board (''fylkesutvalg''), that meet considerably more often. Both the council and executive board are led by the Chairman of the County Council or County Mayor (''fy ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kommunal Landspensjonskasse
Kommunal Landspensjonskasse Gjensidig Forsikringsselskap or KLP is an Oslo-based mutual insurance company that manages the pensions of municipal employees in Norway. As of 31 March 2021, the fund had assets of NOK 813.5 billion (US$95.1 billion), with 337 municipal and county authorities, 31 health trusts and 2,300 public sector firms as clients. Norway's largest pension fund, KLP was established in 1949. Until 1974 the portfolio was managed by Norsk Kollektiv Pensjonskasse, after which KLP received its own license. KLP Eiendom is a major subsidiary that manages real estate in Norway and Denmark. State employees are insured through the Norwegian Public Service Pension Fund. Ethical divestment KLP has a long track record of ethics-based financial divestment, is a member of the United Nations Principles for Responsible Investment (UNPRI) and publishes detailed explanations about why it excludes certain investments. KLP also shares its ESG analysis with the Government ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pensions In Norway
Pensions in Norway fall into three major divisions; State Pensions, Occupational Pensions and Individual or personal Pensions. State pensions (Alderspensjon) All Norwegians citizens are entitled to get a state pension from the age of 67 in accordance with the Norwegian National Insurance Act (Folketrygdloven). The state pension is paid in full to Norwegian citizens who have lived in Norway for at least 40 years after the age of 16 and in lesser amounts to Norwegian citizens who have lived less time in the country (see Minimal state pension (Minstepensjon)). The State Pension is calculated according to what the individual has previously earned from ages 16 to 67. The calculation is made by The Norwegian Labour and Welfare Administration (NAV). The financing of the state pensions is based on a " Pay as you go" system. This means that today's work force is making the payments for the current retirees. The demographic structure in Norway suggests that in the future there will gra ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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