Old-age pensions and early-retirement pensions (AFP)

You can continue working while you are receiving an old-age pension, without reduction in the pension. If you were born in 1943 or later, you can earn pensions rights from your employment income until you are 75 years old.

You pay less tax on pension income (including AFP) than on employment income.  The National Insurance contribution on pension income is 5.1 per cent, while it is 8.2 per cent on employment income. Pay and capital income (e.g. interest income and income from real estate) are taxed at the same rate as for employees. The minimum standard deduction for pension income is set off against the minimum standard deduction for employment income for taxpayers who combine pay and pension.

Regarding tax deduction for pension income: see the chapter "Tax allowances for recipients of old-age pensions from the National Insurance scheme or AFP".

If you have any questions about the calculation of your pension, your pension statement and flexible drawing of your old-age pension, you need to contact the Labour and Welfare Service (NAV).