KLP - Another strong quarter
The pension company KLP achieved a strong result in the third quarter, with a return of 2.3 per cent – and a total of 7.0 per cent so far in 2024.
“Good returns are the most important way for us to help reduce the pension costs to our customers. After three quarters, we have surplus returns to our customers of over NOK 40 billion. This is a very pleasing result,” says CEO Sverre Thornes.
Digital investment in pensions
On 1 January 2025, new pension rules will come into effect for employees with public-sector occupational pensions.
“KLP has been working on new digital solutions for several years, so we are ready for this change. Our solutions are already enabling both employers and their employees to obtain reliable and simple information, and make informed choices about their own pensions,” says Thornes.
New climate-friendly investments
An important way for us to contribute to the green transition is to increase climate-friendly investments. So far this year, these investments have increased by 14 billion NOK, of which 4.5 billion NOK in the third quarter. At the end of the third quarter, climate-friendly investments accounted for 12.5 percent of KLP's financial assets.
Key figures for the third quarter of 2024:
- The return on the pension assets in the common portfolio was 2.3 per cent for the third quarter and 7.0 per cent for the year to date.
- Total assets for the Group: NOK 1,128 billion
- Solvency margin: 289 per cent.
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 N0K1000bn (€85bn) 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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