We would like to ensure that you are still receiving content that you find useful – please confirm that you would like to continue to receive ILO newsletters.
24 June 2020
In order to deal with the financial consequences of the COVID-19 outbreak, Parliament has adopted temporary amendments to the rules for temporarily laid-off employees who belong to private pension schemes.
In general, employees who are laid off do not continue as members of private pension schemes. However, pension agreements can state that in such cases, employee membership will continue. The above changes will mainly affect employers that have not agreed to this.
Parliament has decided that employers may choose to allow laid-off employees to retain their membership with a pension scheme during the lay-off period. The individual employee must bear the cost of continuing insurance for the membership, while the business must continue to pay the administrative costs. This will entail temporary changes to:
The proposed changes will come into force once they have been addressed by the King in Council.
For further information on this topic please contact Ole Kristian Olsby at Homble Olsby | Littler by telephone (+47 23 89 75 70) or email (firstname.lastname@example.org). The Homble Olsby | Littler website can be accessed at www.homble-olsby.no.
The materials contained on this website are for general information purposes only and are subject to the disclaimer.
ILO is a premium online legal update service for major companies and law firms worldwide. In-house corporate counsel and other users of legal services, as well as law firm partners, qualify for a free subscription.