Oslo Pensjonsforsikring (OPF), Norway’s second-largest public service pension fund, has reported its best return since 2005. OPF recorded a 9.2 percent return in 2017, compared with 5.3 percent in 2016.
“This is a solid contribution to lowering our customers’ pension costs and giving them room to solve their most important tasks,” said Åmund Lunde, CEO of Oslo Pension Insurance.
“The key to a profitable pension scheme is in good returns and low costs. We will continue to hunt for all the possibilities we have for it to remain profitable to be a customer in OPF and to be an owner,” said Lunde.
In addition to the good return, OPF reduced operating costs by 9 percent from 2016 to 2017.
In the fourth quarter of 2017, the pension fund achieved a profit of NOK 357 million ($45 million), compared with NOK 204 million ($26 million) in the same quarter of 2016. The parent company’s solvency capital coverage was 514 percent and 598 percent calculated
