Employee Benefits in Norway, 2020 Update

Employee Benefits in Norway, 2020 Update

Summary

The Norwegian employee benefits market is predominantly controlled by the public social security system; however, the growth of labor-intensive industries has fueled the growth of the country’s private benefits market over the last decade. The public social security system, which is supervised by The Norwegian Labor and Welfare Administration (folketrygden, NAV), plays a significant role in the country’s welfare system and is responsible for providing general social insurance schemes to the citizens of Norway. Other schemes such as the Family Allowance Scheme and the Scheme for Cash Benefit for Families with Small Children are also contributing to the overall development of the country’s social welfare system.

The report provides in-depth industry analysis, information and insights of the employee benefits in Norway, including: overview of the state and compulsory benefits in Norway, detailed information about the private benefits in Norway, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in Norway.

Key Highlights

  • The Norwegian Labour and Welfare Administration (NAV) is responsible for the functioning of the overall social security system.
  • A person’s national insurance contribution is determined based on their income.
  • An insured person who is unemployed or unable to work and whose benefits have been exhausted is entitled to credited contribution.
  • In Norway, employers provide voluntary retirement benefits to their employees through deferred annuity plans.
Scope

This report provides a detailed analysis of employee benefits in Norway -
  • It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits
  • It covers an exhaustive list of employee benefits, including retirement benefits, death in service, long-term disability benefits, medical benefits, workmen's compensation insurance, maternity and paternity benefits, family benefits, unemployment, leave and private benefits
  • It highlights the economic and regulatory situations relating to employee benefits in Norway
Reasons to Buy
  • Make strategic decisions using in-depth information related to employee benefits in Norway.
  • Assess Norway’s employee benefits market, including state and compulsory benefits and private benefits.
  • Gain insights into the key employee benefit schemes offered by private employers in Norway.
  • Gain insights into key organizations governing Norway’s employee benefits, and their impact on companies.


1. EXECUTIVE SUMMARY
2 INTRODUCTION
2.1 What is this Report About?
2.2 Definitions
3 COUNTRY STATISTICS
4 OVERVIEW OF EMPLOYEE BENEFITS IN NORWAY
5 REGULATIONS
6 STATE AND COMPULSORY BENEFITS
6.1 Retirement Benefits
6.1.1 Introduction
6.1.2 Eligibility
6.1.3 Benefits
6.1.4 Payment Options
6.1.5 Contributions
6.2 Death in Service
6.2.1 Introduction
6.2.2 Eligibility
6.2.3 Benefits
6.2.4 Payment Options
6.2.5 Contributions
6.3 Long-Term Disability Benefits
6.3.1 Introduction
6.3.2 Eligibility
6.3.3 Benefits
6.3.4 Payment Options
6.3.5 Contributions
6.4 Short-Term Sickness Benefits
6.4.1 Introduction
6.4.2 Eligibility
6.4.3 Benefits
6.4.4 Payment Options
6.4.5 Contributions
6.5 Medical Benefits
6.5.1 Introduction
6.5.2 Eligibility
6.5.3 Benefits
6.5.4 Payment Options
6.5.5 Contributions
6.6 Workmen’s Compensation Insurance
6.6.1 Introduction
6.6.2 Eligibility
6.6.3 Benefits
6.6.4 Payment Options
6.6.5 Contributions
6.7 Maternity and Paternity Benefits
6.7.1 Introduction
6.7.2 Eligibility
6.7.3 Benefits
6.7.4 Payment Options
6.7.5 Contributions
6.8 Other Benefits
6.8.1 Family Benefits
6.8.2 Unemployment Benefits
6.8.3 Minimum Resources
6.8.4 Long-term Care Insurance
6.8.5 Leaves and Holidays
7 PRIVATE BENEFITS
7.1 Retirement Benefits
7.2 Disability Benefits
7.3 Death Benefits
7.4 Medical Benefits
7.5 Accidental Death and Dismemberment Benefits
8 APPENDIX
8.1 Methodology
8.2 Contact GlobalData
8.3 About GlobalData
8.4 GlobalData’s Services
8.5 Disclaimer
List of Tables
Table 1: Insurance Industry Definitions
Table 2: Norway - Country Statistics
Table 3: Norway - Retirement Pension Replacement Rates
Table 4: Norway - Employer’s Liability Insurance Supplement Rates
Table 5: Norway - Child Care Benefits Amount per Child 2020
Table 6: Norway - Child Care Cash Entitlement 2020
Table 8: Norwegian Leave - Fixed National and Public Holidays 2020
List of Figures
Figure 1: Norway - Main Institutions of Social Security System

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