Own Pension Account Flexible

Every employee with a defined contribution pension scheme received an Own pension account with their current employer's pension provider in 2021. 

Should you want a different pension provider or management of the pension assets than what your employer has chosen, an Own pension account flexible is the right solution for you.

With an Own pension account flexible you will have

  • a wide range of funds from Storebrand and other fund providers
  • a reliable supplier with leading expertise
  • full overview of your pension assets in market-leading digital solutions
  • prices from 0.2 per cent in management fees

Why choose Own pension account flexible?

Prospect of higher return

The return on your pension assets has a huge impact on your pension payouts. If you are 40 years old now almost half of your pension payouts at retirement will come from the return.

Storebrand offers robust fund solutions with a good balance between risk and return. You can achieve higher returns by choosing other fund portfolio solutions and taking higher risks.

Check available funds here (text in Norwegian)

Prospect of lower costs

If you choose a lower management fee than what the employer pays, the profit will be added to your pension account.

Example: Your defined contribution pension has a NOK 500,000 portfolio. Your employer pays 0.6% to the pension provider they have chosen. If you choose an index fund with a lower management, e.g. 0.2% in index funds, the difference is 0.4%.

Your pension account will then be added NOK 2,000 more a year.

Overview and control

With an Own pension account flexible in Storebrand you will have access to digital solutions that provide a good overview.

The savings app Mine penger provides a quick overview of your pension assets. If you are approaching retirement and want to plan a little more in detail, we recommend the Smart Pension solution. It requires a little more effort from you, but gives you a better overview and control.

The choice is yours, and if you need help our pension experts will assist you.

Reliable provider with leading expertise

Storebrand manages the savings and pension assets for 1.1 million Norwegians, which makes us Norway's largest private asset manager and pension provider. 

We are ranked as one of the world's most sustainable companies as stated in the rankings of the Dow Jones Sustainability Index and Global 100. This makes us extra proud because we have worked with sustainability for more than 25 years, and have an ambition to be a leader in sustainable investments.

Download the app Mine penger

Easy overview of all your savings and pension assets in one app.

Own pension account

All your defined contribution pension savings from current and previous employers - gathered in one account.

Q&A Own pension account flexible

  • Who can obtain an Own pension account flexible?

    All employees in the private sector are included in the Own pension account scheme. Employees with an active defined contribution pension may opt for Own pension account flexible at Storebrand. 

  • How much does an on Own pension account flexible in Storebrand cost?

    Establishing an Own pension account flexible in Storebrand is free of charge. The price you pay will depend on which funds you choose. You decide for yourself whether you want to choose an index fund with a low price, or whether you want active management at a higher cost. If you choose an Own pension account flexible in Storebrand, you will be compensated an amount corresponding to what your employer pays today.

    Example:
    Your defined contribution pension has a holding of NOK 500,000. Through your agreement, your employer pays 0.6% to the pension provider they have chosen. If you choose an index fund with a lower management cost, for example 0.2%, the difference is 0.4%. You will be compensated for the difference, which in this example amounts to NOK 2,000 more per year in your pension account.

  • What is the difference between Own pension account and Own pension account flexible?

    Your own pension account is bought and managed by the company you work for. The company chooses a pension provider and the selection of funds. Most companies choose to have a choice of few, simple funds or pension profiles. If you do not do anything, you get the scheme the employer chooses for the employees. If, on the other hand, you want to make your own choices and select several different funds, Own pension accout flexible may be a good choice.

  • Which funds are available?

    With your Own pension account flexible in Storebrand, you get access to a good fund selection. We offer both our own active funds and index funds, and funds from other suppliers. Our specialists carefully consider which funds are included in the sample.

    Complete overview of our funds on Own pension account flexible (text in Norwegian)

  • How do I find out what pays off for me?

    If you choose Own pension account flexible in Storebrand, your pension account will be compensated with an amount corresponding to what your employer pays today.

    • Find your costs at Norsk Pensjon
    • Choose funds from Storebrand's fund universe
    • If you choose funds with lower costs than what your employer pays, you will gain a profit.
  • Which schemes may be collected in the Own pension account flexible?
    • Defined contribution schemes
    • Pension capital certificates
    • Individual pension saving (IPS) discontinued 1.11.2017
    • Individual pension scheme (IPA)

  • How do I find out which costs my employer covers?

    Log in to norskpensjon.no to find out what the employer pays.

    With your Own pension account flexible in Storebrand, you pay management costs for the funds of your choice, but you will receive a monthly «standard compensation» from your employer. This compensation will cover the management fee for the pension portfolio earned in your current employment. The compensation corresponds to the management fee the employer would pay on the «standard solution» for an own pension account for the employees. You do not receive compensation for the management fee related to savings value from previous employment.

    Your employer deposits the same monthly pension savings as if you had remained in the employer's pension scheme. Transfer to your account is automatic.

  • Funds versus EFTs

    In Storebrand, we offer funds, not ETFs (Exchange Traded Funds). There are many similarities between these, but also some major differences. Below you will find some points you should be aware of.

    Trade, costs and investments:

    When buying a fund, you make a payment to us, and you are usually allocated units in the fund at a market value the day after the purchase. Buying and selling funds with us is free of charge. You buy ETFs in the same way as a share, i.e. over the stock exchange. When you trade ETFs, there is often a cost associated with the trade itself (brokerage). ETFs may be denominated in a currency other than NOK, and costs associated with the purchase and sale of currency exchange may arise. The ETFs are largely linked to an index and have low annual management costs. Among the funds, you will find both index and active, with both low and higher annual management costs.

    Risk:

    Several ETFs have mortgages included, which can increase the risk significantly. AksjeNorge writes, among other things, that: "ETFs are a kind of exchange-traded index fund. This is considered a complex investment product and many of these have a form of gearing that entails a significantly higher risk of loss."