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.
Related topics and insights
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.
Meld. St. 24 (2020–2021)
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
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.