The economy

The Government Pension Fund

The purpose of the Government Pension Fund is to facilitate government savings to finance rising public pension expenditures, and support long-term considerations in the spending of government petroleum revenues. A sound long-term management of the Fund contributes to intergenerational equity, by allowing both current and future generations to benefit from the petroleum revenues.

Illustrasjonsbilde

Governance Model

The Ministry of Finance holds the overall responsibility for the management of the Government Pension Fund. The operational management of the GPFG and GPFN is carried out by Norges Bank and Folketrygdfondet, respectively, under mandates laid down by the Ministry.

Illustrasjonsbilde. Foto: Colourbox

Investment Strategy

The investment strategy for the Fund is based on long-term considerations of different investment choices. Good financial return over time is deemed to be contingent on a sustainable development in economic, environmental and social terms, and on well-functioning, efficient and legitimate financial markets.

Illustrasjonsbilde. Foto: Colourbox

Management Provisions

The framework for the Government Pension Fund and the management of fund assets are laid down by Act of Parliament and guidelines with supplementary provisions.

What's new

Government Pension Fund Global illustration

The Government Pension Fund 2022 white paper:

Responsible long-term management of the Government Pension Fund

01.04.2022: The Ministry of Finance is today publishing the white paper The Government Pension Fund 2022. Key topics in this paper are climate risk and the review of active management of the Government Pension Fund Global (GPFG).

Minister of Finance Trygve Slagsvold Vedum

The Government Pension Fund 2022 white paper:

Strengthening climate risk efforts in the Government Pension Fund Global

01.04.2022: “The Government wants to make the GPFG world leading in responsible investment and the management of climate and nature risks. There is, at the same time, a broad political consensus that the Fund has a financial objective and is not a climate policy tool“, says Minister of Finance Trygve Slagsvold Vedum (Centre Party).

Documents

Meld. St. 9 (2021–2022)

The Government Pension Fund 2022

The annual white paper on the management of the Government Pension Fund reports on results in the management of the Government Pension Fund Global (GPFG) and the Government Pension Fund Norway (GPFN), and discusses development of the investment strategy and framework for responsible investment.

NOU 2020: 7

Values and responsibility — The ethical framework for the Norwegian Government Pension Fund Global

In April 2019, the Norwegian government appointed a committee chaired by Professor Ola Mestad to review the Guidelines for observation and exclusion of companies from the Norwegian Government Pension Fund Global (GPFG). The Committee’s report (NOU 2020:7) was submitted to the Ministry of Finance on 15 June, 2020.

Contact

Asset Management Department

Phone: +47 22 24 41 63
Address: Postboks 8008 Dep, 0030 Oslo
Visitor address: Akersgata 40, 0030 Oslo