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.


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.


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.



Report to the Storting:

Sound management of the Government Pension Fund

– The Government Pension Fund represents our joint savings and is a key part of Norway’s fiscal policy framework. The Fund is managed in a transparent and sustainable manner. Both Norges Bank and Folketrygdfondet have performed well over time, says Siv Jensen, Minister of Finance.


Press release 31.03.2017:

Investment strategy decisions for the GFPG

The equity share, investments in unlisted infrastructure, as well as guidelines for government bonds, are key issues addressed in the white paper on the management of the Fund in 2016.

Press release 16.02.2017:

Increased equity share in the Government Pension Fund Global and adjustment to the expected rate of return in the fiscal policy guidelines

The government has today made two decisions significant to the management of the Government Pension Fund Global (GPFG) and to fiscal policy. The government will submit to parliament a recommendation to increase the equity share in the fund to 70 per cent. The government will also propose a downwards revision of the expected real rate of return of the fund from 4 per cent to 3 per cent. This estimate is important in the fiscal policy guidelines.

All cases about The Government Pension Fund



The Asset Management Department

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