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How can I get this benefit?
- You must have already been granted private AFP. There will be changes to the AFP scheme in the future, but it is the qualification requirements in the current scheme that are relevant to you.
- The average of total income in the last three calendar years before you receive the hardship allowance cannot exceed 7.1 G (1 G is NOK 99,858 as of 01.05.19).
- You must also have had a minimum of 20 years of income in the National Insurance Scheme above 1 G.
- You must give yourself completely to your job and cannot have an income higher than NOK 15,000 if you are to keep the benefit.
- You cannot receive it if you also receive, for example, disability insurance, disability pension from occupational pension, unemployment benefit, work assessment benefit, sickness benefit, severance packages, pension for special age limits or from a public AFP scheme that is paid between the ages of 62 and 66.
How much can I get?
- You can get up to 0.25 G at the start time
- If you retire at age 62, you will receive full benefits.
- If you retire at age 63, you will receive 2/3 of the benefit.
- If you retire at age 64, you will receive 1/3 of the benefit.
The hardship supplement is stepped up so that those born in 1957 receive 1/7 of the benefit, and those born later receive an additional 1/7 of the benefit for each cohort until the 1963 cohort, which receives full benefit. If you were born after 1963, you will receive full benefit. The scheme is regulated as ongoing payments from the National Insurance Scheme, which is currently the growth in the basic amount (G) minus 0.75 percentage points. The benefit ceases upon death or reaching the age of 80.
The scheme will be retroactive from January 1, 2019 for those who qualify to receive the benefit.
