Norway: Selected Issues
This Selected Issues paper reviews the main elements of the National Insurance Scheme (NIS) and the Family Allowance Scheme (FAS) in Norway and provides projections of future pension expenditures. All persons residing or working in Norway are insured under the NIS, and the system is financed on a pay-as-you-go basis through contributions and from general tax revenue. The paper demonstrates that indexing pensions to wages, in line with recent practice, would result in a large net liability by the year 2050, which could be reduced by indexing pensions instead to consumer prices.
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Volume/Issue:
Volume 1999
Issue 011
Publication date: April 1999
ISBN: 9781451829655
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Business and Economics , Exports and Imports , Labor , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , pension , exchange rate , SPF assets , import price equation , asset ratio , import-price deflator , exchange rate targeting , export-price deflator , SPF currency basket , Pensions , Pension spending , Exchange rates , Inflation targeting , Aging , Global , Europe , Central and Eastern Europe , North America , Northern Europe
Summary
This Selected Issues paper reviews the main elements of the National Insurance Scheme (NIS) and the Family Allowance Scheme (FAS) in Norway and provides projections of future pension expenditures. All persons residing or working in Norway are insured under the NIS, and the system is financed on a pay-as-you-go basis through contributions and from general tax revenue. The paper demonstrates that indexing pensions to wages, in line with recent practice, would result in a large net liability by the year 2050, which could be reduced by indexing pensions instead to consumer prices.
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