Pension Capital Certificates
Pension capital certificates are pension agreements from previous employment.
Now that Own pension account is introduced, everyone with a defined contribution pension scheme has received an own pension account with the pension provider chosen by their employer. If you didn't take action, your pension capital certificates were transferred to your own pension account automatically in 2021.
I had a pension capital certificate and an own pension account in Storebrand
The pension capital certificate was automatically transferred to your own pension account in Storebrand in 2021. During that year you could reserve against transferring the pension capital certificate to your pension account at norskpensjon.no.
I have a pension capital certificate in Storebrand but no own pension account
If you did not automatically receive an own pension account at the beginning of 2021, your pension capital certificate is as before. You can find more information about pension capital certificates below and can log in and get an overview of your pension agreements.
Choose Own pension account flexible in Storebrand
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. Your pension assets from previous employers (pension capital certificates) and the pension your employer saves for you will be transferred to us.
Q&A Pension capital certificates
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What is a pension capital certificate?
A pension capital certificate is a certificate documenting your total pension contributions from a former employer or employers with a defined contribution pension scheme. From 2021 you will receive a pension capital certificate only if you stop working in the private sector.
Your pension capital certificates will be transferred automatically into your own pension account during 2021, unless you reserve yourself from the transfer.
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Can I merge several pension capital certificates?
Yes. In doing so you will also save administration costs.
Your pension capital certificates will be transferred automatically into your own pension account during 2021, unless you reserve yourself from the transfer.
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When can I start claiming the pension?
You can start claiming your pension from capital certificate assets when you retire, from the age of 62. Should you become disabled before 62 the rule still applies.
The money will be been paid out together with other pension assets.
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How do I start the pension payout?
Well before you retire, Storebrand will send you a letter asking for necessary information to initiate the pension payout. Once this is in place, the payout will start.
- What happens to my pension savings if I die?
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What if I have pension capital certificates but not an own pension account?
Your Storebrand advantages remain the same:
- Your pension is automatically placed in the savings solution "Recommended pension". Here, the investment profile is adapted to your age. If you are young, a large part of the pension assets are invested in the stock market. As you grow older, your pension is gradually shifted to interest-bearing securities to reduce value fluctuations as the payout approaches.
- You can choose between many pension profiles and funds; from index funds to more specialized equity funds. Our fund selection (in Norwegian)
- If you have several pension capital certificates in Storebrand, you can reduce costs by merging them. You do this easily by sending us a message from your personal pages.
- If you also have pension capital certificates with other providers, you should merge them in Storebrand to reduce costs. Move and merge pension capital certificates from other providers (page in Norwegian)
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Can paid-up policies with investment options be moved to own pension account?
Paid-up policies with investment options will not be merged into own pension account.
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What is administration costs and why do I have to pay this?
Administration fees are costs related to administering your agreement. In Storebrand, you pay an annual administration fee of 1 percent of the pension savings balance, but not more than NOK 400. If you have several pension capital certificates, we recommend that you collect these into one agreement to avoid additional fees.
Details on pension capital certificates
More information about investment choices, savings profiles and how to easily make changes to your pension capital certificate.
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Investment choices
In Storebrand, you can change the pension profile on your pension capital certificate free of charge. With the right savings profile, you can achieve a much better return and thus more in retirement. You have many exciting funds to choose from, with different management fees. depending on the risk represented by the various funds.
Our fund selection (page in Norwegian)
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Payouts
Payouts from pension capital certificates can start from the age of 62. The payout period is set at a minimum of 10 years and up to the age of 77. However, if the annual pension payout is less than 20 per cent of the National Insurance basic amount, the payout period can be altered.
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Costs
- Annual administration costs: 1 percent of the savings balance, but not more than NOK 400
- The management fee depends on which funds you have invested in, varying from 0.2 to 2.5 percent.
- Fund switching: no costs.
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Switching savings profile or funds
Switching savings profiles or funds is free of charge.
- Log in to your personal pages.
- Select the tab «Pension» and menu item «Pension agreements».
- Find the agreement you want to change your savings profile on.
- Press «Show details», then «Change savings profile».
Past performance is no guarantee of future returns. Future returns will depend, among other things, on market developments, the manager's skills, investment risk and management costs. The return can be negative as a result of a fall in stock prices.