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
- Government Pension Fund Global: Twenty-fifth anniversary Press release 26/05/2021
- Revised National Budget: A budget to promote recovery and inclusion Press release 11/05/2021
- Simplification of the benchmark index for the Government Pension Fund Global Press release 09/04/2021
- Strengthening of the ethical framework for the Government Pension Fund Global Press release 09/04/2021
- Responsible long-term management of the Government Pension Fund Press release 09/04/2021
- Expert group to examine how climate change, climate policy and the green transition may affect the Government Pension Fund Global Press release 09/02/2021
- The National Budget 2021: Producing more and making working life more inclusive Press release 07/10/2020
- The National Budget 2021: Key Figures in the National Budget 2021 Press release 07/10/2020
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. 31 (2020–2021) - Financial Markets Report 2021 Report to the Storting 23/04/2021
- Meld. St. 24 (2020–2021) - The Government Pension Fund 2021 Report to the Storting 09/04/2021
- Meld. St. 14 (2020–2021) - Long-term Perspectives on the Norwegian Economy 2021 Report to the Storting 12/02/2021
- Meld. St. 32 (2019–2020) - The Government Pension Fund 2020 Report to the Storting 21/09/2020
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