Tax Tool

Household and savings

Pension savings tool

This projects a savings balance from three pieces: money you have already saved, a monthly amount you add, and an employer contribution on the part of salary that sits between one and twelve times the National Insurance basic amount. The basic amount used here is 136,549 NOK, the figure NAV set from 1 May 2026.

Quick math0

Use this for quick arithmetic, percentages, or to check figures while filling in the main tool, without leaving the page.

Your figures

Estimate

2,576,955 NOK projected savings

Projected balance
2,576,955 NOK
Illustration if drawn over 20 years
10,737 NOK / month
Years of saving
32

How this breaks down

Pay between 1 G and 12 G
513,451 NOK
Employer contribution this year
10,269 NOK
Combined monthly contribution
2,856 NOK

Projects private saving plus an occupational-pension contribution on pay between 1 G and 12 G. National Insurance retirement pension is not included. The 20-year drawdown is a straight split with no return after retirement.

How to use this tool

  1. Use Pension Savings Tool for the question described above, and check that the inputs match your records and time period.
  2. Enter current age.
  3. Enter retirement age.
  4. Enter annual salary.
  5. Enter your own monthly saving.
  6. Enter expected annual return.
  7. Enter employer contribution rate (2% is the statutory minimum on pay between 1 G and 12 G.).
  8. Enter savings already built up.
  9. Change current age, retirement age, annual salary, your own monthly saving, expected annual return, employer contribution rate, savings already built up to compare scenarios, then check the units in the result.

Worked example with the prefilled values

This example shows how Pension Savings Tool uses its starting values. Change the calculator inputs to estimate your own situation.

Current age
35
Retirement age
67
Annual salary
650000 NOK
Your own monthly saving
2000 NOK
Expected annual return
4 %
Employer contribution rate
2 %
Savings already built up
100000 NOK

2,576,955 NOK projected savings

  • Projected balance2,576,955 NOK
  • Illustration if drawn over 20 years10,737 NOK / month
  • Years of saving32

Projects private saving plus an occupational-pension contribution on pay between 1 G and 12 G. National Insurance retirement pension is not included. The 20-year drawdown is a straight split with no return after retirement.

Formula and calculation logic

Pensionable pay = max(0, min(annual salary, 12 × G) − G); annual employer saving = pensionable pay × employer rate

Monthly contribution = personal monthly saving + annual employer saving ÷ 12

Projected balance = current savings × (1 + r)^n + monthly contribution × ((1 + r)^n − 1) ÷ r; monthly rate r = annual return ÷ 12

G is the National Insurance basic amount. r is the monthly return, and n is the number of months until retirement.

Pensionable pay is your salary limited to the band from 1 G to 12 G. Pay below 1 G does not earn this contribution. Pay above 12 G is ignored for the statutory minimum scheme.

The employer rate defaults to 2%, which is the statutory minimum for the defined-contribution scheme. Many employers pay more. Change the rate to the one in your contract.

Contributions are compounded monthly at the return you expect. The balance at retirement is also shown as a straight 20-year drawdown, with no investment return after you stop working.

Assumptions

  • National Insurance retirement pension, AFP, and public-sector schemes are not included. For many people those are the larger part of retirement income.
  • The projection is before tax on the way out and before any tax deduction on the way in.
  • The return is a guess you control. It is not a forecast.

Published sources

Further reading for checking current rules and information. These links are not live inputs to the tool.

Questions about this tool

What is G?

G is the National Insurance basic amount. From 1 May 2026 it is 136,549 NOK. Occupational pension thresholds are written as multiples of G, so they move when G moves.

Is 2% what my employer pays?

2% of pay between 1 G and 12 G is the legal minimum for the mandatory defined-contribution pension. Your employer may pay a higher rate.

Why is the state pension missing?

The National Insurance pension depends on your pension reserves over a full working life. It cannot be derived from one salary and a savings rate, so this page does not invent it.