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.
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.
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.
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.
Related topics and insights
What's new
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).
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).
Latest news
- Report on long term perspectives for the Government Pension Fund Global submitted by committee Press release 26/09/2022
- Revised National Budget: Sound economic governance Press release 12/05/2022
- Strengthening climate risk efforts in the Government Pension Fund Global Press release 01/04/2022
- Responsible long-term management of the Government Pension Fund Press release 01/04/2022
- The Government Pension Fund Global to exit Russia Press release 28/02/2022
- Norway to increase support to Ukraine and provide military equipment Press release 27/02/2022
- Expert group report on Norges Bank’s active management of the GPFG News story 07/01/2022
- Change in the mandate for the committee on long-term perspectives for the Government Pension Fund Global Press release 09/11/2021
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.
Latest documents
- NOU 2022: 12 - The Fund in a changing world Norwegian Official Report (NOU) 26/09/2022
- Meld. St. 9 (2021–2022) - The Government Pension Fund 2022 Report to the Storting 01/04/2022
- Climate risk and the Government Pension Fund Global Report 20/08/2021
- Meld. St. 31 (2020–2021) - Financial Markets Report 2021 Report to the Storting 23/04/2021
Contact
Asset Management Department
E-mail: postmottak@fin.dep.no
Phone: +47 22 24 41 63
Address: Postboks 8008 Dep, 0030 Oslo
Visitor address: Akersgata 40, 0030 Oslo