License to operate a pension undertaking
A license is required to operate as a pension undertaking. The term "pension undertaking" includes pension funds and defined contribution pension undertakings. A pension fund is an autonomous institution whose activities are based on one or more group pension schemes established by an enterprise or municipality. A defined contribution pension undertaking is a limited liability company with activities based on a group defined contribution pension.
Financial Supervisory Authority of Norway - License for pension undertaking (in Norwegian only)
About this form
Anyone intending to operate a pension undertaking.
The requirements for the contents of the license application are described in Section 3-1 of the Financial Institutions Act. More detailed rules for pension funds and defined contribution pension undertakings are stipulated in the Insurance Act.
A pension undertaking must have a board of directors and managing director. The board members, CEO or other person who actually manages the undertaking must have the necessary experience and record of satisfactory conduct.
