Norway’s Pension Fund Reaches $1 Trillion
Talk about a retirement plan. Norway hit a major economic milestone on Tuesday as its pension fund is now worth $1 trillion, about the same as Mexico’s GDP. The world’s largest government wealth fund was established in 1996 to funnel the country’s massive oil revenues toward keeping its citizens financially secure, though such a big fund can tempt officials to dip into the piggy bank when times get tough. Norway’s stockpile is expected to hit $1.3 trillion by 2025 — though some warn that declining oil revenues could slow its growth.