KLP returns record sum to the municipalities
Good returns in 2023 allowed KLP to return NOK 21.4 billion to Norwegian local municipalities and healthcare customers this year.
KLP received a surplus return in 2023 that allowes a total of NOK 21.4 billion to be returned to the owners’ premium fund.
– Good returns are the greatest contributor to lower pension costs, which is why it is especially nice to be able to transfer such a big surplus to our customers. We are getting higher returns going forward from both property and interest-bearing investments, and have increased our financial strength over the years. That is why we are in a position to pass on so much of our surplus return, says Sverre Thornes, CEO of KLP.
Key figures
- NOK 21.4 billion to be transferred to the customers’ premium fund.
- Return on the common portfolio of 2.4 per cent in the fourth quarter and 6.4 per cent in the year.
- Total assets in excess of NOK 1,000 billion
The surplus return in 2023 also provides room to strengthen the solvency by NOK 6.4 billion.
Contacts
Glenn Slydal Johansen
Tel:+47 930 37 976glenn.slydal.johansen@klp.noAbout KLP KLP, the pension fund for Norway’s municipal employees, is the country’s biggest occupational pension fund with N0K900bn (€88bn) under management. KLP is a mutual company, owned by Norwegian municipalities, health trusts and publicly owned companies. KLP has strict self-imposed guidelines for responsible investments, climate, and sustainability, and has released one of the industry most ambitious net zero emissions roadmaps “The Road to Paris”. - https://www.klp.no/en/corporate-responsibility-and-responsible-investments/klps- roadmap-to-net-zero
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