Norway: Revisions to the National Insurance Basic Amount (“G”)

As of 1 May 2024, the national insurance basic amount has been adjusted from NOK 118 620 to NOK 124 028, reflecting a 4.56% increase. This amount plays a crucial role in various contexts, such as calculating compensation for enforcing non-compete clauses, where currently the compensation is 100% of the employee’s salary up to 8G and at least 70% of the employee’s salary for amounts exceeding 8G, up to a total of 12G.

Additionally, the basic amount is integral to many of the Norwegian Labour and Welfare Administration’s (NAV) payments affecting, among other things: sickness benefits and retirement pensions from the National Insurance Scheme. It also influences the thresholds for pension accruals.