Start pension disbursements
Start receiving disbursements from your DNB pension
At this stage you can start receiving disbursements of your pension from DNB. Remember that payment of your pension can start at the earliest from the age of 62 years.
What do you want to do when you can draw a pension?
1. I want to keep on working without drawing my pension
You do not need to draw a pension even if you have the option to do so. The employer saves for your pension as long as you are in work, but up to the age of 75.
The longer you wait to start the pension payment, the higher your annual pension will be.
2. I want to draw a pension while I continue working
As long as you’re working, your employer will continue to contribute towards your pension. The payout you receive while you are still working is only based on your already accrued pension benefits. The earlier you start receiving pension disbursements, the lower your annual pension will be.
When you work while taking out a pension, your total income becomes higher than before. This means that you have to pay more of your pension in tax than if you had received a pension alone.
To see the effect of this, we recommend that you use The Norwegian Tax Administration’s tax calculator.
3. I want to continue working in a part time position
As long as you’re working, your employer will continue to contribute towards your pension. A reduced position produces lower savings.
If you choose to draw a pension at the same time as working in a reduced position, the pension disbursement will only be based on the already accrued pension benefits. If you’re drawing a pension, it’s important to update your tax card on the Norwegian Tax Administration’s website.
Pensions and salaries have different tax rules, so even if the disbursement would be approximately the same, there is no certainty that the tax will follow suit.
To see the effect of this, we recommend that you use The Norwegian Tax Administration’s tax calculator
4. I want to stop working and live off my pension
When you stop working, the pension saving from your employer will cease. Pension disbursements from the employer usually start when you have reached the age of 67, but you can start the disbursements when you turn 62. In all cases, the disbursements must be distributed until you are at least 77 years old.
If you would like to start receiving pension disbursements from the National Insurance Scheme before you turn 67, you must have earned enough pension in the National Insurance Scheme. You can get information about this from NAV (the Norwegian Labour and Welfare Administration).
Get a full summary of private sector pensions at Norsk pensjon (the Norwegian pensions portal).
5. I am incapacitated for work but am considering drawing a pension
If you are partially disabled, you can also take out a partial retirement pension. The sum of the disability pension and the retirement pension cannot exceed 100 per cent of the retirement pension benefits.
You can read more about this here: