Regulations To The Act Of 24 March 2000 No. 16 On Occupational

Original Language Title: Forskrift til lov av 24. mars 2000 nr. 16 om foretakspensjon

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$20 per month, or Get a Day Pass for only USD$4.99.
Regulations to the Act of 24 March 2000 no. 16 on Occupational


Date FOR-2000-12-01-1212


Affairs Ministry


Published In 2000 2566


Commencement 01.01.2001

Edited
FOR-2015-10-09-1174

Changes


For
Norway

Legal

LOV-2000-03-24-16-§1-3, LOV-2000-03-24-16-§4-7a, LOV-2000-03-24-16-§4-7b, legislation 2000-03-24-16-3-3, LOV-2000-03-24-16-4-1, LOV-2000-03-24-16-§4-15, LAW-2000-03-24 -16-§6-4, LOV-2000-03-24-16-§16-2, LAW-2005-12-21-124-§1, FOR-2000-11-24-1170, FOR 2000 12-21-1354, FOR-2012-12-14-1231

Promulgated


Short Title
Regulations to the Companies Act

Chapter Overview:

Chapter 1. Further provisions on the vesting age and retirement pension pursuant to the Pensions Act § 4-1 third paragraph, and § 5-7a before ... (§§ 1-1 - 1-2)
Chapter 2. Supplementary provisions for merging of minimum liability pursuant to the Pensions Act § 4-15 subsection (§§ 2-1 - 2-2)
Chapter 3. Supplementary provisions on transitional rules pursuant to the Pensions Act § 16- 2:20 subsection (§§ 3-1 - 3-7)
Chapter 4. Supplementary provisions for exemption from membership of a company pension scheme pursuant to the companies Act § 3-3, first paragraph (4-1)
Chapter 5. Further provisions on deductions from disability pension paid to the work assessment allowance (§§ 5-1 - 5-5)
Chapter 6. supplementary regulations by issuing paid-up under the Companies Act § 4-7a and 4-7b § (§§ 6-1 - 6.3)
Chapter 7. Calculation and payment of annual retirement (§7-1)
Chapter 8 Entry into force (section 8-1)

Adopted by the Ministry of Finance 1 December 2000 pursuant to the Act of 24 March 2000 no. 16 on Occupational § 1-3, § 4-7a third, fourth and sixth paragraphs and § 4-7b, second paragraph, § 3-3, § 4-1 second paragraph, § 4-15, third paragraph, § 6-4 second paragraph and § 16.2 twenty-fifth paragraph.
Added basis: Law 21 December 2005 no. 124 on mandatory occupational § 1 fourth paragraph, delegating decision on 24 November 2000 no. 1170, Delegated Decision of 21 December 2000 no. 1354 and delegation decisions December 14, 2012 no. 1231. | || Changes: Amended by regulations 22 Dec 2000 no. 1414, June 29th 2001 no. 798, June 4th, 2003 no. 664, June 30, 2006 no. 860, 18 Dec 2009 No.. 1726, February 22, 2010 no. 201, 10 August 2011 No.. 815, June 27, 2014 no. 886, October 9, 2015 No.. 1174.

Chapter 1. Further provisions on the vesting age and retirement pension pursuant to the Pensions Act § 4-1 third paragraph, and § 5-7a, first paragraph

§ 1-1. Special vesting ages
(1) Lower accrual age of 67 applies to the following professions:

Vesting Age 55 years:
Pilots of aircraft

Divers

Rescuers in helicopters serving the oil installation at sea

Vesting Age 60 years:
aircraft crews except pilots

Vesting Age 62 years:
Professional drivers

Vesting Age 65 years
Nurses

Mining Workers during the day

Crane operators

Operators of excavators and bulldozer drivers

Occupation Sakk Visit Ears in insurance

Travelers (sellers)

Reindeer Herders

Staff on fixed oil installations

Driver Educators

(2) For other professions can Ministry of Finance in accordance with the Act § 4-1 third paragraph set lower earning age in special cases when the legal conditions are met.

§ 1-2. Age at retirement pension
(1) Retirement pension can be withdrawn before age 62, and at the specified time, for the following professions:

Withdrawals in 55 years:
Pilots of aircraft

Divers

Rescuers in helicopters serving the oil installation at sea

Withdrawals at age 60:
aircraft crews except pilots

Chapter 2. Supplementary provisions for merging of minimum liability pursuant to the Pensions Act § 4-15 subsection

§ 2-1. General information about the merging of minimum liability
(1) Rights for free policies can be joined together at the premium reserve for the respective benefits (retirement pension, disability pension, child pension, spouse's pension and cohabitant pension) merged.

§ 2-2. Privilege requirements for new paid-up
(1) Upon the merger of retirement with different vesting age, the vesting age after the merger shall not be less than that of the paid-up policy that has the highest earning age, however, that the vesting age can be set to 67 for the event that the vesting age greater than 67 years. By merging of retirement with different termination date may termination date not be earlier than that of the paid-up policy that has the latest termination date.

(2) Upon the merger of disability where it is assumed different standstill period, should the technical standstill period is 12 months.


(3) By merging of children's pension with different termination date shall be the latest termination date is used.

(4) Upon the merger of spouse's pension with different termination date shall be the latest termination date is used.

(5) Upon the merger of cohabitant pension comes fourth paragraph accordingly. Spouse's pension and cohabitant's pension can not be merged.

Chapter 3. Supplementary Provisions on transitional rules pursuant to the Pensions Act § 16-2 twenty-fifth paragraph

§ 3-1. Special retirement ages
(1) Lower vesting age than 67 years as previously approved by the Health and Social Affairs pursuant to § 5 Paragraph 3 of the Regulation of 28 June 1968 no. 3 relating private occupational schemes (1968 Regulations), are at present continued the commencement of this Act.

(2) In the cases before 1 January 2001 are authorized to fix the same vesting age in private pension scheme for insured falling under a statutory occupational lower vesting age of 67, the scheduled vesting age continue the pension plan.

§ 3-2. Early retirement Erte members
(1) Members who have been given early retirement before 1 January 2001, and that according to § 4 no. 3 in the 1968 regulations have been standing in the scheme, retain their membership in the scheme. The pensionable income can not exceed foundation December 31, 2000. The pensionable income can be adjusted annually, up with the rise in National Insurance.

(2) Members who become early retirement in the period between 1 January 2001 and the date of change of the pension scheme regulations pursuant to the Companies Act § 16-2 third paragraph b shall be notified of the scheme at the time of the change of the pension scheme regulations.

§ 3-3. Pension plan that is closed under the 1968 rules
(1) scheme, which is closed by approval pursuant to § 6 no. 3 in the 1968 Regulations should be continued as closed pension scheme. The scheme must in all other areas adapted to the rules of Pensions Act by 1 January 2003.

(2) Pension plan which is closed pursuant to § 16 no. 4 in the 1968 regulation can be continued as closed pension. Regulations § 16 no. 4 shall continue to apply unless otherwise determined by an exemption from Health and Social Affairs.

§ 3-4. Completion of liquidation of supplementary funds and other independent pension
(1) Upon termination of pension funds covered by § 9 and § 16 paragraph 7 of the 1968 Regulations, cf. Transition rules of Taxation § 6-46, it shall, in consultation with the Fund board ensure that it made estimates of the benefits payable under the pension plan to the pension beneficiaries of the fund in accordance with the provisions of § 9 and § 16 paragraph 7 of the regulation. The entity shall ensure the inclusion of regulatory provisions for company pension plans that ensure the rights of those entitled to a pension fund.

(2) Contributions to the pension beneficiaries of the Pension Fund can not in any event exceed the maximum benefits pursuant to § 5-7, first paragraph.

(3) The first paragraph does not apply for the pension funds where FSA pursuant to § 16 paragraph 7, first paragraph, fourth sentence in the 1968 regulations have consented to any other use of the fund.

§ 3-5. Continuation of previous dispensations by the 1968 rules
(1) Exemptions previously granted pursuant to § 15 of the 1968 rules will apply until further notice.

§ 3-6. Continuation of the transitional rules to the 1968 rules
(1) The provisions on the vesting age Pensions Act § 4-1 does not apply to employees upon entry into force of the 1968 regulations went into the pension plan as mentioned in the Regulations § 1 subsection a lower-earning age than that specified in or pursuant to § 5 section 2, cf. § 5 paragraph 3, when the employee is still a member of the same pension plan.

(2) Employees who were members of a pension plan referred to in § 1, first paragraph ai 1968 Regulations as of 10 February 1984, and a member of the same pension plan, can still be secured survivor's pension for the pension plan applicable at this point. This applies even if the provisions of Chapter 7 of the Pensions Act, ref. 1968 Regulations § 5, paragraph 4, have not been implemented in the scheme.

(3) Employees who were busy in the plan at the commencement of the 1968 rules, which were secured payment of lump sum on death in accordance with the previously applicable provisions can still be secured lump sum upon death in compliance with § 16 paragraph 5. | ||
§ 3-7. Continuation of the Regulations to the 1968 rules

(1) Regulation of 6 June 1990 no. 440 about not coordinating with war pensions for private occupational pensions granted pursuant to the 1968 Regulations subsection k § 15 first paragraph shall continue to apply.

Chapter 4. Supplementary provisions for exemption from membership of a company pension scheme pursuant to the Companies Act § 3-3 first paragraph

§ 4-1. Exemption from membership of a company pension scheme
(1) Employees shall be excluded from membership of a company pension scheme if they are members of a group pension scheme outside the Companies Act, the entity pays premiums or taxes and which provides benefits at least equivalent value. Entity allowed to have parallel plans are governed by the Companies Act § 2-9 et seq.

(2) With collective scheme outside the Companies Act means:

1.
Insurance in the state pension,

2.
Other statutory pension schemes,

3.
Municipal pension schemes covered by the Act of 10 June 2005 no. 44 on insurance companies, pension companies and their activities etc.. Chapter 10

4.
Other public pension pension fund or life insurance company which benefits mainly correspond to benefits in the State Pension Fund

5.
Other private collective scheme pension fund, insurance company, bank or fund management companies.

(3) Exemption from membership of a company pension scheme can only be made for employees who are members of the pension plan under subsection at the time of establishing the new company pension scheme. This does not apply when the membership of pension schemes under the second paragraph is required by law.

(4) Exemption from membership of a company pension scheme must apply to all groups that have membership in the pension plan under subsection. Occupational scheme rules shall not preclude the individual employee who is a member of a pension under the second paragraph shall be able to choose to go over to the company pension scheme at the time of establishing the scheme.

(5) The question of exemption from membership in the pension plan shall be submitted to the steering committee of the pension scheme for comment. The affected workers will also be given an opportunity to comment. An employee organization may speak on behalf of their members. Others may be determined in a collective agreement.

(6) FSA determines individual decisions about a pension plan under subsection provides benefits at least equivalent value, cf. Subsection.

(7) An employee may choose to remain outside the company pension if he or she is a member of a foreign pension plan, cf. Taxation § 6-72, the entity pays the premium or fee to.

Chapter 5. Supplementary rules on deduction in disability pension paid to the work assessment allowance

§ 5-1. Definitions In this chapter means:
Disability: Disability pension under the Companies Act, Chapter 6
Work assessment allowance: Performance mentioned in the Insurance Act § 11-13 and calculated in accordance with Insurance Act § 11-15 - § 11-26.
Estimated work assessment allowance 66 percent of salary up to 6 G.
Estimated Performance: The sum of the calculated work assessment allowance and disability.
Salary: Salary for Occupational § 5-4.

§ 5-2. Deductions disability pension paid to the work assessment allowance deduction shall be made in disability pension paid to the work assessment allowance in cases where the intended performance, cf. § 5-1, constitute more than 70 per cent. Of wages. The deduction made by payment and added to the premium fund, ref. The Companies Act § 10-2, first paragraph d.

§ 5-3. Calculation of deduction deduction under § 2.5 shall be the difference between the estimated benefits and 70 percent of wages. In case of partial disability shall be made a proportional reduction of the payout calculations in the first sentence would provide.

§ 5-4. Transitional rules Disability which commences on 1 March 2010 or later, be for the period until 1 July 2010, paid no later than 1 July 2010. It shall not be calculated and paid interest on such payment of disability which covers the period from 1 March to 1 . July 2010.
It shall not be deducted from disability pension paid to the work assessment allowance as a result of a decision on temporary disability benefits made by 1 March 2010.

§ 5-5. Commencement provisions of this chapter shall enter into force on 1 March 2010.

Chapter 6. Supplementary regulations by issuing paid-up under the Companies Act § 4-7a and 4-7b §

§ 6-1. Details of the agreement for free policies assigned own investment portfolio

(1) Before entering into an agreement for the issuance of paid-up allocated own investment portfolio under the Companies Act § 4-7a, the pension scheme providing free policy holder written examples showing how much annual return a given investment portfolio at least must have to achieve certain benefits, and how probable and uncertain the outcomes are. Consideration should be given to free policy holder's age and sex, pensjonsinnretningens compensation, risk result and single premium by transfer to general government by drawing a retirement pension. Examples should be relevant, realistic and not misleading. Risk and uncertainty should be stated clearly in the presentation of examples.

(2) The pension unit shall state in writing up policy holder about the pension scheme will use its right in the Insurance Act § 9-13 second paragraph to cover contract share of negative risk result by deduction in return assigned to the contract or the value of the investment portfolio assigned to the contract.

(3) Finanstilsynet may issue rules and guidelines on preparing and presenting the information and samples to be provided pursuant to subsections and the Companies Act § 4-7a fifth and sixth paragraphs.

§ 6-2. Details of the agreement for investment related to the issued paid-up
(1) The provisions of § 6-1 apply correspondingly to free policies issued under the Companies Act § 4-7b first paragraph.

§ 6-3. Provision Foundation by entering into an agreement on investment
(1) If the pension scheme has changed the basis for calculating capital values ​​so that the pension scheme is compelled to increase reserves for previously written insurance, the funds shall be as specified in the Companies Act § 4-7a, first paragraph, third sentence, and § 4-7b, first paragraph, third sentence, respond to the new provision requirements.

Chapter 7. Calculation and payment of annual retirement

§ 7-1. Calculation and payment of retirement from paid-up
(1) Pension device may use a technical interest in the calculation of the age pension to change the payout if the payout would otherwise be impractical steeply rising age pensioners. The use of a technical interest implies no guarantee of the pension scheme.

(2) The technical interest rate should be set at a reasonable level, and including being adapted to risk profile and expected returns in asset management. The level of technical interest rates should contribute to:

A)
age pension do not receive an increasing regulation beyond ordinary wage growth and inflation,

B)
age pension ensured throughout the payment period and

C)
that no unreasonable discrimination between products, product combinations or customer groups.

(3) The technical interest rate can not be set higher than the maximum permitted rate of return guaranteed by occupational Act § 5-7, second paragraph, second sentence or regulations issued by the Financial Supervisory Authority pursuant to the Occupational Act § 5-7, second paragraph, third sentence.

(4) The pension unit shall state in writing age pensioners about what a technical interest is and the impact of that pension payments are calculated based on a technical interest. This shall include information about the risks that pension payments are reduced or will be lower than what follows from the estimated payout. By changing the technical interest rates should the pension scheme shall inform age pensioners on new, projected pension payments and other effects of change.

Chapter 8. Commencement

§ 8-1. Commencement
(1) This regulation enters into force on 1 January 2001.