KLP: Good results for KLP in the first half of the year

28 August 2023

KLP publishes on its website:

KLP delivers a good result for the first half of the year, with a return for pension customers of 4.2 per cent so far this year. KLP’s subsidiaries can also show good development.

Key figures

  • KLP achieved a value-adjusted return on the pension funds in the collective portfolio of 4.2 per cent so far this year.
  • Total profit for customers was NOK 21.3 billion.
  • Good growth from external customers who choose KLP’s fund products.
  • More and more of the pension scheme’s members appreciate good terms and buy non-life insurance in KLP.

– Strong stock markets have contributed to a good result for KLP in the quarter, especially considering that we have adjusted down the value of our properties due to increased interest rates, says CEO Sverre Thornes.

New pension system provides better guidance

In the quarter, KLP made great progress in the development of a new and modern digital pension system adapted to the new regulations within public occupational pensions. In the second quarter, all retirement pensions and AFP have been transferred to the new system. This means faster case processing and even better advice, both to employers and employees.

– For employees in municipal and health Norway, this means that they can find out within seconds what they will get in pension, what it means to continue working in a full-time position, and what flexibility they have to be able to work alongside the pension. This is important for everyone to be able to make good choices about their pension, and not least to help show what they earn by working more, both in terms of position size and age, says CEO Sverre Thornes.

Source: KLP
Multiple reports with cicle diagram and text

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