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.


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.

Illustrasjon til stortingsmelding

The Government Pension Fund 2023 white paper

Annual white paper on the Government Pension Fund

Press release 31/03/2023

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.

Bildemontasje til statsbudsjettet 2023

The National Budget 2023

A budget for security and fair distribution

Press release 06/10/2022

There is a war and an energy crisis in Europe. High inflation is affecting people’s lives. The Government’s response is a fair and responsible budget, which improves distribution and enhances security at a challenging time.


Asset Management Department

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