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
Government Pension Fund Global: Twenty-fifth anniversary
On Monday, 31 May, the Ministry of Finance and Norges Bank will be hosting a webinar to mark the 25th anniversary of the first transfer to the Government Pension Fund Global. The webinar will be livestreamed and is open to the general public.
Government Pension Fund 2021
Responsible long-term management of the Government Pension Fund
09/04/2021: The Ministry of Finance today published the white paper The Government Pension Fund 2021. The white paper addresses the Government efforts in further developing the investment strategy and strengthening of the responsible investment framework. The performance of the Government Pension Fund Global (GPFG) and the Government Pension Fund Norway (GPFN) is also presented.
Latest news
- Long-term management in volatile financial markets Press release 05/04/2019
- The Norwegian Government recommends that the asset management of the Government Pension Fund Global (GPFG) remains in Norges Bank Press release 19/10/2018
- National Budget 2019: A budget to promote employment, welfare and security Press release 08/10/2018
- National Budget 2019: Outline of economic developments and fiscal policy Press release 08/10/2018
- Sound and responsible management of the Government Pension Fund Press release 10/04/2018
- Expert group to review energy stocks in the GFPG News story 13/02/2018
- Expert reports on the GPFG News story 15/01/2018
- Advice from Norges Bank on the benchmark index for the Government Pension Fund Global (GPFG) News story 16/11/2017
Documents
Meld. St. 24 (2020–2021)
The Government Pension Fund 2021
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
- Meld. St. 20 (2018–2019) - The Government Pension Fund 2019 Report to the Storting 05/04/2019
- Meld. St. 13 (2017–2018) - The Government Pension Fund 2018 Report to the Storting 10/04/2018
- Meld. St. 26 (2016–2017) - The Management of the Government Pension Fund in 2016 Report to the Storting 31/03/2017
- Meld. St. 23 (2015–2016) - The Management of the Government Pension Fund in 2015 Report to the Storting 05/04/2016
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