Retirement pensions during payments receive an annual increase of 4.12 percent.
This was announced by the Ministry of Labor and Social Inclusion on Wednesday.
The increase is 3.53 percent as of May 1, but 4.12 percent on an annual basis.
At the same time, it is clear that the basic amount of the National Insurance Scheme will increase from NOK 106,399 to NOK 111,477 as of May 1, 2022, corresponding to 4.77 percent.
Minister of Labor and Social Inclusion Marte Mjøs Persen (Labor Party) says the policy is in line with Storting’s decision that the pension should be regulated as an average of wage growth and price growth.
– It provides security for the individual how their own pension earnings and pensions will develop over time, Persen tells NTB.
He emphasized that the pension system must be sustainable over time.
– This is a splicing layer between the generations, says Persen.
Pensioners’ unions are disappointed
The figures were discussed with the Association of Pensioners, Senior Norway, Norwegian Armed Forces Association of Adults, National Association of Public Pensioners, Joint Organizations of People with Disabilities, Forum of Cooperation of Organizations of People with Disabilities, LO, YS, Unio and Akademikerne.
John Davidsen, the leader of the pensioners’ association, says he is disappointed, but not surprised.
– We are also familiar with Storting’s decision. But we thought we’d be fully compensating for the delays that we got back from last year, says Davidsen of NTB.
What Davidsen is aiming for is a request from organizations that this year’s policy must be corrected for the differences between the estimates used as a basis for last year’s Social Security policy, and what became the current development last year. . The deviation is estimated at 1.1 percent.
What the government is offering now instead involves a correction for half of that difference. Then the development of core amounts and inflation in 2021 is used as a basis.
The minimum pension is maintained
Regarding the situation for minimum pensions, Persen referred to the Pension Committee, which was appointed in 2020 to evaluate pension reform from 2011.
The committee, chaired by CEO Kristin Skogen Lund of Schibsted, will submit its recommendations on June 15.
– They will also look at the social sustainability of the pension system. This is an important task. It is important that we have financial sustainability, that we can ensure that future generations also receive pension payments. But it is also important that he does not see it as unfair. It will be natural to look at the minimum pensions when the committee made its recommendations, says Persen.
Davidsen, on the other hand, was hoping for an increase for the minimum pensions already now.
– For a minimum pensioner, this means an increase of NOK 600 per month. When we look at the growth in our prices for electricity, food and gas, we see that many people are struggling, he says, the old-age pensions they pay will increase by 3.53 percent, while the annual increase will be 4.12. percent ..