Storebrand and DNB plan municipal pensions comeback in Norway

A new public sector pension scheme scheduled for 2020 seems to have sparked a desire by Storebrand and DNB to re-enter the Norwegian market for municipal pensions after seven years of absence.

Photo: Colourbox

After seven years of near-monopoly in the EUR 51 billion Norwegian municipal market, giant pension provider Kommunal Landspensjonskasse (KLP) may face competition once again.

According to financial media IPE, two financial groups -- Storebrand and DNB -- have announced their intentions to return to the market for provision of local authority pensions, which cover a third of Norway’s working population.

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