 It is not legally required for employees with an income of over 12G.Contractual pension (called "Avtalefestet pensjon" or "AFP") is an early retirement pension scheme given to employees of companies which participate in the AFP pension scheme through a collective agreement (overenskomst).The scheme was initially introduced in 1988 when the Norwegian Confederation of Trade Unions (LO) and the Confederation of Norwegian Enterprise (NHO) reached an agreement according to which the employees would be able to get their pension from the age of 66 years.