Norway Rules Laid Tender

The Ministry of Finance has today laid down regulations that give employers the right to decide that laid-off employees shall continue as members of the pension scheme. The regulations further guide the flexibility in the handling of laid-off employees who have so far followed the interim legal rules that expire on 28 February 2022.The government will work for a safe and good working life. We now continue the flexible rules for membership in the pension scheme during redundancy so that the scheme is available to the companies and employees who need it. Although these rules were originally introduced to deal with layoffs during the pandemic they may be appropriate even in more normal layoff situations. We will therefore shortly send for consultation a proposal to introduce such legal rules on a permanent basis says Minister of Finance Trygve Slagsvold Vedum Sp.This right applies to employers in the private sector who have schemes where employees are in principle to be notified of the pension scheme if they are laid off as a result of operational restrictions etc. In this case the employer can choose whether the laid-off employees are to be covered by the insurance coverage in the pension schemes.Lay-offs who are not allowed to continue their insurance coverage are given the right to take out their own individual insurance continuation insurance. Employees who continue to be members of the pension scheme have the advantage that no pension capital certificate is issued and that the employer therefore pays for the administration and management of the employees pension funds.