What can you expect in retirement? Take simple steps to be financially stronger on your retirement day.
The Consumer Council participates in project cooperation with Norsk Pensjon, LO, NHO, NAV, Finans Norge, Statens pensjonskasse, AksjeNorge og Senter for seniorpolitikk. The aim is to get consumers to take control of their own pension and increase their own awareness of the choices a person has regarding their own occupational pension. The campaign is financed by the Financial Markets Fund.
- We recommend everyone to log on to minpension.no and check the forecast pensions. There you'll be able to see both your National Insurance earnings and the pension you've earned through your employment, says specialist director Jorge Jensen of the Consumer Council.
Own retirement account?
If you work in a private company, your employer has most likely chosen the so-called defined contribution pension. In this case, you get your own retirement account and can decide for yourself who looks after your retirement money.
– You can decide how much money you want to have in the stock market. If you have a long time to draw your pension, 10 years or more, it makes sense to have a high share of your pension savings. There may be fluctuations along the way, but over time, the expected return of equity funds is higher than that of interest and combined funds, says Jorge Jensen.
– You will definitely benefit from choosing a company that has low fees. Don't forget that lower fees mean more money in retirement.
On the market portal of the Consumer Council Finanportalen you will find a complete overview of companies where you can open your own retirement account.
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Source: Consumer Council
Also read: Minimum pension for single people up
