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Employee Benefits in Norway

  • September 2014
  • -
  • Timetric
  • -
  • 53 pages

Synopsis
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
- The regulatory framework and recent regulations relating to Norwegian employee benefits

Summary
The Norwegian employee benefits market is predominantly controlled by the public social security system; however the growth of labor-intensive industries has fuelled 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.

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 benefits, long-term disability benefits, short-term sickness benefits, medical benefits, maternity and paternity benefits, minimum resources, annual vacations, unemployment, long-term care benefits 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 Norwegian employee benefits
- Assess the Norwegian 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 regulations governing Norwegian employee benefits, and their impact on companies

Key Highlights
- The Norwegian employee benefits market is predominantly controlled by the public social security system
- A number of state and compulsory benefits schemes such as old-age pensions, disability benefits, survivor's benefits, short-term sickness benefits, occupational injury benefits, cash benefits for sickness, medical benefits and funeral grants are provided to citizens
- The Norwegian Labor and Welfare Administration (NAV) was established in July 2006 and is the prime social security institute in Norway. It supervises one third of the national budget through various employee benefit schemes such as sickness, rehabilitation, unemployment, pensions and cash benefits
- Private benefits play a critical role in the Norwegian welfare system. Almost all companies located in east and west Norway provide benefits in addition to the existing general social security benefits

Table Of Contents

Employee Benefits in Norway
Table of Contents
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 Types of retirement plans
6.1.3 Eligibility
6.1.4 Age
6.1.5 Pensionable salary
6.1.6 Benefits
6.1.7 Payment options
6.1.8 Employee and employer contributions
6.1.9 Taxation
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 Employee and employer contributions
6.2.6 Taxation
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 Employee and employer contributions
6.3.6 Taxation
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 Employee and employer contributions
6.4.6 Taxation
6.5 Medical Benefits
6.5.1 Introduction
6.5.2 Eligibility
6.5.3 Benefits
6.5.4 Payment options
6.5.5 Employee and employer contributions
6.5.6 Taxation
6.6 Workmen's Compensation
6.6.1 Introduction
6.6.2 Eligibility
6.6.3 Benefits
6.6.4 Payment options
6.6.5 Employee and employer contributions
6.6.6 Taxation
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 Typical employer practice
6.7.6 Employee and employer contributions
6.7.7 Taxation
6.8 Family Benefits
6.8.1 Introduction
6.8.2 Eligibility
6.8.3 Benefits
6.8.4 Payment options
6.8.5 Employee and employer contributions
6.8.6 Taxation
6.9 Minimum Resources
6.9.1 Introduction
6.9.2 Eligibility
6.9.3 Benefits
6.9.4 Payment options
6.1 Annual Vacations
6.10.1 Introduction
6.10.2 Holiday pay
6.11 Unemployment
6.11.1 Introduction
6.11.2 Eligibility
6.11.3 Benefits
6.11.4 Payment options
6.11.5 Employee and employer contributions
6.11.6 Taxation
6.12 Long-term Care Benefits
6.12.1 Introduction
6.12.2 Eligibility
6.12.3 Benefits
6.12.4 Taxation
7 Private Benefits
7.1 Retirement Benefits
7.2 Disability Benefits
7.3 Death Benefits
7.4 Medical and Health Benefits
7.5 Other Benefits
8 Economic Indicators
8.1 Economic Performance
8.1.1 GDP at constant prices (US$)
8.1.2 GDP per capita at constant prices (US$)
8.1.3 GDP at current prices (US$)
8.1.4 GDP per capita at current prices (US$)
8.1.5 GDP split by key sectors
8.1.6 Inflation rate
8.1.7 Annual average exchange rate US$-NOK
8.1.8 Unemployment rate
8.1.9 Gross national disposable income
8.2 Demographics
8.2.1 Total population
8.2.2 Urban and rural populations
8.2.3 Labor force
9 Appendix
9.1 Methodology
9.2 Contact Timetric
9.3 About Timetric
9.4 Timetric's Services
9.5 Disclaimer

List of Tables
Table 1: Definitions
Table 2: Norway - Country Statistics, 2012?2014
Table 3: Norway - Retirement Pension Benefits
Table 4: Norway - Child Care Benefits Amount per Child, 2013
Table 5: Norway - Cash Benefits for the Time Spent in Day Care, 2013

List of Figures
Figure 1: Major Organizations of the Norwegian Social Security System
Figure 2: Norwegian GDP at Constant Prices, (US$ Billion), 2008-2012
Figure 3: Norwegian GDP Per Capita at Constant Prices, (US$), 2008-2012
Figure 4: Norwegian GDP at Current Prices, (US$ Billion), 2008-2012
Figure 5: Norwegian GDP Per Capita at Current Prices, (US$), 2008-2012
Figure 6: Norwegian GDP by Key Segments, (%), 2008 and 2012
Figure 7: Norwegian Inflation Rate, (%), 2008-2012
Figure 8: Norwegian Annual Average Exchange Rate US$-NOK, 2008-2012
Figure 9: Norwegian Unemployment Rate, (%), 2008-2012
Figure 10: Norwegian Gross National Disposable Income, (US$ Billion), 2008-2012
Figure 11: Norwegian Total Population, (Million), 2008-2012
Figure 12: Norwegian Urban and Rural Population, (%), 2008-2012
Figure 13: Norwegian Size of Labor Force, (Million), 2008-2012

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