Updated 25 October 2026
Quick answer: In Norway in 2026, there is no national minimum wage (pay floors are set by collective agreements); an average earner keeps 72% of their pay after income tax and social security; household electricity costs €0.199 per kWh; the state pension age is 67. The table below puts 7 everyday money measures for Norway side by side and ranks each one against the other countries in our data, using official figures from national statistics offices, central banks, the OECD and Eurostat.
Against the other countries in our data, Norway stands out here: its state pension age, 67, is the 6th highest of 39 countries. It sits nearer the middle for state pension (as a share of pay). It has no minimum wage and no inheritance tax for children.
Norway at a Glance
| Measure | Norway | Rank |
|---|---|---|
| Minimum wage | None by law (collective agreements) | — |
| Tax on an average wage | 28.1% (keeps 72%) | 12th highest of 38 |
| Electricity (household) | €0.199/kWh (≈ $0.22) | 9th lowest of 33 |
| State pension age | 67 | 6th highest of 39 |
| Pension (share of pay) | 54.9% of net pay | 20th lowest of 50 |
| Bank deposit protection | NOK 2 million per person, per bank | — |
| Inheritance tax (children) | None | — |
Rank compares Norway with the other countries in each dataset; "highest" means the largest value. "—" means the measure isn't ranked.
Minimum Wage in Norway (2026)
Norway has no statutory national minimum wage. Pay floors are set sector by sector in collective agreements between unions and employers, which cover most workers and are often higher than the legal minimums of neighbouring countries.
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Income Tax and Take-Home Pay in Norway
A single worker on the average wage in Norway (about $88,000 at purchasing-power parity) pays 28.1% of gross pay in income tax and employee social security, so they keep 72%. That is 12th highest of 38 countries, against an OECD average of 25.1%.
Income tax and employee social security take 28.1% of pay at the average wage, 23.5% at two-thirds of it and 35.1% at 1.67 times it. Including employer contributions, the total tax wedge is 36.4% of labour costs.
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Electricity Prices in Norway
Households in Norway pay about €0.199 per kWh of electricity (about $0.22), 9th cheapest of 33 countries. Change: +3.7% vs late 2025.
Typical household using 2,500–5,000 kWh a year, all taxes included, January–June 2026.
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Retirement Age in Norway
The state pension age in Norway is 67 for people reaching it in 2026; the earliest you can claim is 62 (flexible). Future change: Linked to life expectancy from 2029.
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How Much the State Pension Pays in Norway
A full-career average earner in Norway can expect a mandatory pension worth about 54.9% of their previous net pay, 20th least generous of 50 countries (OECD average 63.2%). Low earner (half the average wage): 74%. High earner (twice the average): 37%.
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How Much of Your Money Is Protected in Norway
Bank deposits in Norway are protected up to NOK 2 million per depositor, per bank (about $213,900), under the Bankenes sikringsfond scheme. For banks in the Norwegian scheme. Money in payment apps and e-money wallets is usually not covered.
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Inheritance Tax in Norway
Norway has no inheritance tax for children. Abolished in 2014.
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Norway vs Denmark, Finland and Sweden
The same measures for Norway and its nearest neighbours in our data, side by side.
| Measure | Norway | Denmark | Finland | Sweden |
|---|---|---|---|---|
| Minimum wage | None by law (collective agreements) | None by law (collective agreements) | None by law (collective agreements) | None by law (collective agreements) |
| Tax on an average wage | 28.1% (keeps 72%) | 35.3% (keeps 65%) | 30.7% (keeps 69%) | 22.6% (keeps 77%) |
| Electricity (household) | €0.199/kWh (≈ $0.22) | €0.237/kWh (≈ $0.27) | €0.269/kWh (≈ $0.30) | €0.306/kWh (≈ $0.34) |
| State pension age | 67 | 67 | 65 (national pension) | 67 (guarantee pension) |
| Pension (share of pay) | 54.9% of net pay | 77.1% of net pay | 65.7% of net pay | 66.3% of net pay |
| Bank deposit protection | NOK 2 million per person, per bank | €100,000 per person, per bank | €100,000 per person, per bank | €100,000 per person, per bank |
| Inheritance tax (children) | None | top rate 15% | — | None |
Compare Norway With Other Countries
See every country side by side in Compare Countries 2026: Wages, Tax, Mortgages and Pensions, or compare Norway with nearby countries in our data: Denmark, Finland and Sweden.
Related Guides
Figures checked against the official sources listed in each linked guide in October 2026. Exchange-rate conversions are approximate. This page is for information and isn't financial or legal advice.
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