Pension payments set to rise

Politics can make for strange bedfellows, like when Norway’s right-wing Progress Party and left-wing Socialist Left party agreed last week on a pension pay compromise. In this case, it means retirees may be able to sleep better at night. The agreement quickly won support from the Labour- and Center parties, meaning they can now all form […]

‘Wealthy’ Norway to pay poor pensions

Norway, the country with one of the world’s largest pension funds, actually ranks low in terms of pension income that workers in the private sector can expect when they retire. Pension reform in Norway has left many employees with pensions that will equal less than half their income upon retirement. Newspaper Dagens Næringsliv (DN) reported Tuesday […]

Retirees revolt against the state

The leader of the organization representing retired Norwegians is fed up with how they’re losing purchasing power year after year. Jan Davidsen, a former labour union leader, is now revving up efforts to legally challenge the state over how pension payments are regulated. “We’re not going to take this any longer,” Davidsen declared from the […]

Labour talks fail, strike threatened

Negotiations over new labour contracts between Norway’s national employers’ organization NHO and the two large trade union federations LO and YS broke down on Thursday. Now it’s up to the national mediator to avoid a major strike in the private sector. “We’ve been negotiating for nearly 14 days,” said LO leader Hans-Christian Gabrielsen. “We have […]

Record-low fertility rate raises concern

Only 56,600 children were born in Norway last year, 2,300 fewer than in 2016 and resulting in the lowest national fertility rate ever recorded. With immigration growth also down, the declines are raising new worries about the consequences for the social welfare state. The decline in the fertility rate, to 1.62 children per woman in […]

Oil Fund gushes with new record results

Norway’s huge sovereign wealth and pension fund that’s fueled by the country’s oil revenues reported record results for last year. Commentators quickly reported that the money earned on the so-called Oil Fund amounted to more than NOK 194,000 (USD 25,000) per Norwegian. The actual returns on the fund hit 13.7 percent, according to the annual […]

Oil Fund caught in a power struggle

The head of Norway’s central bank, Øystein Olsen, and the man running the central bank’s unit in charge of managing Norway’s huge Oil Fund, Yngve Slyngstad, disagree on the fund’s future. Their disagreement has now been branded as a “power struggle” that can only be settled by the state politicians ultimately responsible for the fund, […]

Spanish seafarers demand pensions

Around 200 Spanish seafarers who sailed on board Norwegian ships and paid tax to Norway are now suing the Norwegian government for pension benefits. They believe they’re entitled to pension payments from Norway, after 30 years of failing to have their demands met. Around 12,000 Spanish seafarers have worked on board Norwegian vessels since the end of […]

Statoil scolded over workers’ buyouts

Norway’s state oil company Statoil was the target of some angry editorials and complaints this week, after newspaper Dagens Næringsliv (DN) reported just how lucrative it’s been for Statoil’s workers to voluntarily give up their jobs. Employee buyouts have cost an estimated NOK 4 billion over the past three years, with the state and taxpayers picking […]

More drama at the Norwegian Opera

Norway’s Opera House in Oslo has become a national landmark, but sour notes are sounding once again inside the state-funded building that houses both the Norwegian Opera & Ballet. Soloists have demanded an urgent meeting with the Parliament’s committee on cultural affairs, while a revolt tunes up against the Opera’s new top administrator even before she starts […]