Membership of the Norwegian Public Service Pension Fund is obligatory for government employees. All members pay two percent of their salary as a pension contribution each month. For every NOK that you pay, your employer pays between five and six NOK. The total sum contributes to your pension and to your other member benefits. SPK service provides benefits for housing loans and insurance schemes.
OsloMet has several foreign citizens who are not members of the Norwegian National Insurance Scheme, and Norwegian citizens who work abroad for a longer period. Generally, OsloMet employees who are members of the Norwegian National Insurance Scheme shall be insured either through SPK or through local social security and insurance schemes in the country of residence.
Criteria for membership in SPK
- The employee must have his or her primary employment at OsloMet and the minimum limit on the position percentage is 20 percent
- The employee must be informed of the consequence of not being a member of the Norwegian National Insurance Scheme
- The employee may choose to continue pension earnings in the SPK and retain the other rights this provides by paying a special fee of 2 percent + 7.5 percent of the monthly salary.
The special fee for voluntary membership in the SPK is covered by the employee. If an employee is sent out on assignment in another country extending more than 1 year, the membership is covered by OsloMet. Becoming an SPK member is voluntary and applies to employees without membership in Norwegian National Insurance and who are offered to work for OsloMet in Norway but choose to work from another country.
The SPK membership gives you several employee benefits such as right to disability pension, survivors' pension and housing loans with better rates.
Read more below about each of the benefits:
Retirement pension
As a member of the Norwegian Public Service Pension Fund you have one of the best pension schemes on the market (spk.no). If you have full pension-qualifying service, you will get a retirement pension of 66 percent of your contribution to your pension fund valid as long as you live.
Who can get a retirement pension?
- Anyone who is or has been employed for a minimum of three years, in one or more organisations that are affiliated to the Norwegian Public Service Pension Fund.
- Anyone who works at least 20 percent of a workweek
- You have the right to retire with pension when you reach the age of 67. As an employee in an organisation with a tariff agreed contractual pension
Housing loan
The Norwegian Public Service Pension Fund's housing loan is a membership benefit you can use as an employee at OsloMet which provides one of the market's lowest interest rates for housing loans. You can apply for a loan of up to NOK 2.3 million – or 4.6 million if two in your household are members. The loan can be used to buy a house or for refinancing, renovation, and estate settlement
How to apply for a housing loan
- You can loan up to 80 percent of the house's market value, and the Norwegian Public Service Pension Fund does not require first mortgage security.
- You can only loan for home purchase, not for holiday homes or interim financing.
- You apply by simply sending in an electronic loan application to Housing loan - Statens pensjonskasse (spk.no)
Occupational injury insurance
- Occupational injury insurance gives you a legal right to compensation if you meet with an occupational injury or are inflicted by an occupational illness. Occupational injury (spk.no) shall be notified to both the Norwegian Labour and Welfare Service (NAV) and to the Norwegian Public Service Pension Fund. Your employer will notify NAV about the injury, but you must notify the Norwegian Public Service Pension Fund yourself.
- Occupational injury insurance applies to all OsloMet employees. Through the Occupational Injury Act, you are entitled to compensation for injury and illness that occurs at work. Occupational injury insurance covers your past and future expenses, as well as loss of income, when you suffer lasting injury. The insurance applies anywhere in the world. Occupational injury insurance also gives your next of kin a right to compensation if you die at work.
