Sverre Thornes

KLP returns record sum to the municipalities

| 19.02.24

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 allows 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 customerspremium 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.

Read the quarterly report here