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.
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.
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.
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.
The Government Pension Fund 2023 white paper
Annual white paper on the Government Pension Fund
Topics in this year’s paper include how international economic and political developments may affect the Government Pension Fund Global, and a new review of the active management of the Government Pension Fund Norway.
The National Budget 2024
A budget to safeguard Norwegian households
The budget for 2024 provides security and opportunity for people and businesses throughout Norway. There are expenditure increases in several areas due to war in Europe, a record number of refugees and higher prices. The Government’s priorities are good public services and support for the most vulnerable, along with security and stability. Norway will play its part in helping Ukraine and Ukrainian refugees. The Government will continue to implement the green transition and take action to achieve our climate goals.
Meld. St. 17 (2022–2023)
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.