All private clients may set up an account directly with Arctic Fund Management. By logging in with BankID, clients will have a complete overview of their portfolio with in-depth fund comments and portfolio analysis. (In Norwegian only.)
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Aksjesparekonto and IPS (Individual Pension Saving) is a Norwegian investment scheme with tax motivated benefits on your savings. All Norwegian citizens with a valid Bank Identification (BankID) are welcome to sign up with an account at Arctic Fund Managment.
When you log in to your portfolio at Arctic, you will have access to your Aksjesparekonto, IPS or other savings you have at Arctic Fund Management.
We in Arctic believe that your pension savings should be in equities. If your long term savings are in "aksjesparekonto", IPS or in a single fund it is wise to take on some risk. Return in the stock market fluctuates in the short-term, but it can result in strong return over the long term through compound interest. Compound interest is return on earlier gain, which quickly can generate a lot of money if you, for instance, are saving for pension.
Aksjesparekonto - ASK
"Aksjeparekonto" was introduced on September 1th 2017 for Norwegian savers. Arctic's aksjesparekonto provides a simple solution adapted for most people. Here you can save in Arctic's equity funds and, if desired, create an overview of your family's savings at one place.
Individual Pension Saving - IPS
Individual Pension Saving (IPS) gives you as a private client an opportunity to save up to 40 000 NOK every year- a significant and important supplement for your pension. With the new and improved IPS, you will receive deductions on ordinary income for the amount you save. With a rate at 23 percent, you will get a reduction up to 9 200 NOK for the tax year of 2018. IPS has an 18-years limit and your savings can be paid from the age of 62 - over a period of at least 10 years.
Do you prefer to save in funds outside of aksjesparekonto or IPS?
Do you not understand the meaning of the terminology? Here is an explanation of terms that can help.
Aksjesparekonto: A saving account where you are only allowed equities and equity funds.
AFP: “Avtalefestet pensjon” is an early retirement plan for those between 62 and 67 years of age. Not everyone has AFP, which was meant as a retirement plan for particularly demanding occupations.
Stock/share: A stock/share is a claim of ownership in a corporation.
Age limit: You can have a Aksjesparekonto from your birth. IPS requires you to be 18 years of age. With IPS the disbursement can at earliest start at 62 years of age.
Return: The gain from your investments. The return can be both negative and positive. Finans Norge expect that a yearly return in the stock market is 7.5% over time.
National Insurance (Folketrygden): What the government saves for you. Every year you pay 18.1 percent of income limited up to 7.1 G. This number is 120 328 NOK per year in 2017.
Fund: A fund collects several equities or fixed income securities. This reduce the risk of being wrong. There is also people watching your money at all times.
Fripolise: A fripolise is a pension insurance you get if you quit at a private employer. You can decide to keep paying at a fripolise, or let it stand until retirement.
G: A “G” is a base amount. The Parliament determines the G every year and constitutes a fixed amount that is used to establish the calculation of insurance and pension. Per May 2019, 1G equals 99 858 NOK.
Defined contribution: Most Norwegians that work in the private sector have a “defined contribution”. That means that your employer makes a deposit of your salary, usually between 2 and 7 percent for those with an income up to 700 000 NOK. Your pension is the sum of the deposit and the return you have on the pension.
IPS: Individual pension saving gives all Norwegians an opportunity to save in a tax favorable plan. You can now subtract what you save in IPS, up to 40 000 NOK from your tax report. That equals 9 400 NOK if you save the maximum amount. That means you get 23 percent discount on your pension savings.
Bond: A bond is debt issued by, for example, a corporation. In practice, the issuer takes up a loan from the buyer of the bond and pays back in form of interest. Bonds have different maturity and can be bought and sold through a fixed income fund.
Pension: Your pension is the total amount you get disbursed the year you retire. You can retire from the age of 62, or choose to work until age of 75. Your pension consists of many parts and where a lot of people have to save themselves to get a satisfying total pension.
Pension capital certificate: Some people can be disbursed a pension capital certificate when they quit their job. It shows the amount saved, how much and how long the pension disburses when you become a retiree.
Compound interest: Occurs when you have an amount that accrues interest and adds to the account balance on a deposit or loan, so the added amount also accrues interest.