National insurance contributions are set to 5.1 percent for all pension income and to 8.0 percent for disability benefit and disability benefits from other schemes.

The tax deduction for pension

The maximum tax deduction for pension income is NOK 34,400

The tax deduction for pension income is reduced by:

16.7 percent of pension income that exceeds the threshold in stage 1 –  NOK 210,950

6.0 percent of pension income that exceeds the threshold in stage 2 – NOK 318,000

The tax allowance ceases to apply once the pension exceeds NOK 576,717.

Tax limitation

Gradation rate

55 percent

 

Tax-free net income
Single	NOK 147,450
Married couple – each spouse	NOK 135,550
Married couple - combined	NOK 271,100

 

Wealth supplement
Rate	1.5 percent
Threshold: Married couple – each spouse	NOK 100,000
Threshold: Married couple combined/single	NOK 200,000

 

Tax deduction card

If you are going to draw a full pension or combine work with drawing a pension, you should consider amending your tax deduction card.