DC plans: what progress?

Article Abstract:

Few companies have set up defined contribution plans for their employees to overcome increasing cost problems with their existing defined benefit plans by a switch to defined contribution. The obstacle in setting up a pension arrangement in which costs can be kept under better control is the relatively inflexible and complicated regulations for contribution rates and the rules concerning switching from defined benefit to defined contribution.

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The role of pensjonskasse

Article Abstract:

Large companies adopt pensjonskasse model as it helps to decide on risk equalization, the equity capital ratio and other financial matters. It has to be set up as a company scheme under the Corporate Pensions Act, adapted to complement national insurance benefits and therefore it only covers pensions on income up to 12 G and apply the retirement ages permitted by the act.

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Remuneration: towards performance-based pay

Article Abstract:

Norwegian pay policies are developing towards performance-based individual reward, both at executive and non-executive level. It is further suggested that rationalization and cost control in all processes needs a new way of considering remuneration that is moving away from the traditional democratic way of thinking towards a flexible, incentive-based pay system.

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