Have you drawn a 100 percent old-age pension from the Norwegian National Insurance Scheme or an early retirement pension (AFP) all year?

The maximum tax deduction for 2022 is NOK 33,400 for everyone who has drawn old-age pension from the National Insurance Scheme or an early retirement pension (AFP), with a retirement percentage of 100 percent all year. The combined pension income (including occupational pensions, etc.) must not exceed NOK 210,950. However, the tax deduction is limited to the sum of the assessed income tax and national insurance contributions. The part of the tax deduction that you have used will be shown in the provisional tax assessment.

Did you not use your maximum tax deduction?

Do you have old-age pension from the Norwegian National Insurance Scheme or an early retirement pension (AFP) less than the whole year?

The tax deduction is reduced according to the number of months you have drawn old-age pension from the National Insurance Scheme. It's also reduced according to your retirement percentage. You can find the maximum tax deduction for someone with a combined pension income (including occupational pensions, etc.) not exceeding NOK 210,950 in the table below.

Compare the amount you find in the table with the tax deduction shown in the provisional tax assessment. Did you not use your maximum tax deduction?

Table 1: Calculation of tax deduction 2022

Number of months with pension/retirement percentage	100	80	60	50	40	20
12	33,400	26,720	20,040	16,700	13,360	6,680
11	30,617	24,494	18,370	15,309	12,247	6,123
10	27,833	22,266	16,700	13,917	11,133	5,567
9	25,050	20,040	15,030	12,525	10,020	5,010
8	22,267	17,814	13,360	11,134	8,907	4,453
7	19,483	15,586	11,690	9,742	7,793	3,897
6	16,700	13,360	10,020	8,350	6,680	3,340
5	13,917	11,134	8,350	6,959	5,567	2,783
4	11,133	8,906	6,680	5,567	4,453	2,227
3	8,350	6,680	5,010	4,175	3,340	1,670
2	5,567	4,454	3,340	2,784	2,227	1,113
1	2,783	2,227	1,670	1,392	1,113	557

 

Your combined annual pensions exceed NOK 210,950

Have you drawn a 100 percent old-age pension from the Norwegian National Insurance Scheme or an early retirement pension (AFP) all year, and have a combined pension (including occupational pensions etc.) exceeding NOK 210,950?

If you have no additional deductions, the sum of the assessed income tax and national insurance contributions should exceed your maximum tax deduction. If you have deductions other than the minimum deduction shown in the pre-completed tax return, the sum of your income tax and national insurance contributions may be less than your maximum tax deduction.

The maximum tax deduction for 2022 is NOK 33,400 for everyone who has drawn old-age pension from the National Insurance Scheme or an early retirement pension (AFP), with a retirement percentage of 100 percent all year. The combined pension income (including occupational pensions, etc.) must not exceed NOK 210,950. The tax deduction is reduced in two steps when your combined pension income exceeds NOK 210,950.

• Step 1: The deduction is reduced by 16.7 percent of pension income exceeding NOK 210,950.
• Step 2: The deduction is reduced by 6 percent of pension income exceeding NOK 318,000.

When you draw a pension for less than the full year, the amount limits in steps 1 and 2 are reduced relative to the number of months in which you draw a pension. If you draw less than 100 percent pension, the amount limits are reduced in steps 1 and 2 relative to the retirement percentage.

Example calculation of reduced tax deduction

If your combined pension income is NOK 240,000 with a retirement percentage of 100 and you draw a pension all year, your maximum tax deduction will be calculated as follows:

The maximum tax deduction for pension income up to NOK 210,950 is NOK 33,400.

Comined pension income	NOK 240,000
- Amount limit, step 1	NOK 210,950
= Beløp som skal nedtrappes	NOK 29,050
The tax deduction is reduced by 16.7 percent of NOK 29,050	NOK 4,851
Maximum tax deduction for pension income up to NOK 210,950	NOK 33,400
- reduced tax deduction	NOK 4,851
= Your maximun tax deduction is	NOK 28,549

 

Try using our tax calculator to calculate your taxes and deductions.