How pension scheme works for you as an employee
Congratulations! Your employer has entered a pension scheme with us at Duvi Pensjon. We would like to inform you about your pension and the options available to you.
Congratulations! Your employer has entered into a pension scheme with us at Duvi Pensjon. We would like to inform you about your pension and options available to you.
Update your contact details
The first thing you need to do is to log onto Min side with BankID and enter your correct contact details so that we can keep you updated on your pension. At any time, you can log in to check your pension balance and read letters from us in your inbox.
Please note that it may take 2–3 months before your savings appear on Min side. This is due to statutory deadlines and differences in processing times among the various pension providers.
How does pension work for you?
When you retire, you will receuve your pension from three sources:
- The National Insurance Scheme (Folketrygden).
- Occupational pension saved by your employer.
- Your own savings.
Most employers in Norway are required by law to save pension for their employees. Your employer saves a percentage of your salary for as long as you are employed at the company. Defined contribution pension also includes insurance that will cover your future pension contributions in case of sick leave exceeding 12 months or in the event of disability.
Own pension account (EPK)
The law on own pension account (egen pensjonskonto) was introduced in 2021. The law ensures that your pension will automatically be consolidated with the provider your current employer has chosen, unless you actively opt out of this.
All costs and fees related to your pension are currently covered by your employer. If you leave the company, these costs will then be your responsibility.
You can choose Duvi as your selected pension provider
If your employer happens to change pension providers, you can choose Duvi as your self-selected pension provider. This allows you to keep your pension savings with Duvi, where you benefit from low costs and no administration fees.
We cannot guarantee future returns, but Duvi Langsiktig has achieved a return of over 149 % since the portfolio’s inception.
Our investment portfolios
Duvi offers three investment portfolios. Our own investment committee ensures that the management of these portfolios provides you with the best possible return on your pension savings.
Duvi Langsiktig (The Duvi Long-Term Mutual Fund)
Most of our clients choose Duvi Langsiktig. We recommend Duvi Langsiktig to all our clients who are under 67 years old.
Global equities: 80 %
Bonds: 20 %
Duvi Kortsiktig (The Duvi Short-Term Mutual Fund)
Duvi Kortsiktig is a fund designed for those who are about to start drawing on their pension savings.
Global equities: 30 %
Bonds: 70 %
Duvi Hybrid
Duvi Hybrid is combination of Duvi Langsiktig and Duvi Kortsiktig.
Global equities: 55 %
Bonds: 45 %
Payout of your contribution pension
You can withdraw the accumulated pension funds from your employer starting the year you turn 62. The payments will be distributed over a period of at least ten years. If you decide to retire before the age of 67, your pension will be paid out until age 77.
How much you receive per year depends on the following:
- The amount of savings from your employer(s).
- The return on your pension.
- The costs and fees you have paid yourself.
- The length of the payout period you choose.
Contact our customer service when you want to start receiving your pension payments.
Reduction of equity share
At Duvi, we do not automatically reduce the equity shares in our investment portfolios unless you have chosen this yourself. We believe that maintaining a high equity share for as long as possible provides the best potential for your pension outcome.
When you turn 61, you will receive information from us about the following:
- Estimated annual pension from age 62 to 67, both with and without further contributions until 67.
- Gradual reduction based on age
- Your right to continue earning pension if you work after turning 67.
The year you turn 67, we will automatically transfer your pension funds to Duvi Kortsiktig, unless you notify us in writing otherwise.
Frequently asked questions
I don't have BankID. How do I check my pension balance?
You can check your pension balance at norskpensjon.no.
How long does it take to transfer my pension funds?
Transferring your pension can take 2-3 months, due to legal deadlines and processing times at the various providers you are transferring from. Each transfer goes through several steps:
- Request placed.
- Request sent to previous provider.
- Previous provider confirms the transfer.
- In transfer.
- Funds received and allocated.
- Placed in selected profile.
Duvi do not have access to the exact balance until the funds are received in step 5. Until then, you can check your balance at norskpensjon.no.
What are the costs for individual customers?
All costs and fees are covered by your employer for as long as you are an employee. If you leave the company, the costs and fees related to the previously accumulated pension will fall on you.
The following fees apply for individual customers at Duvi:
- 0 NOK transfer fee
- 0 NOK administration fee
- 0.65 % fund management fee (For any amount exceeding 200,000 NOK, the fee is 0.5%)
I’ve requested my pension payout from Duvi. When can I expect the funds in my account?
If we receive your pension payout form by the 20th, you will receive your first payment on the 20th of the following month.
Why can't I see my pension balance on Min Side?
This may be because your company has only recently started the pension scheme with us. Since we invoice in arrears, the first invoice is sent the month after the scheme start-up date. If you still don’t see any payments and think there might be an issue, we suggest reaching out to your employer.
You are always welcome to contact us by phone 64 80 80 64 or e-mail ks@duvi.no.