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Yes. You should avoid high-risk savings as you approach retirement age. A good rule of thumb is to not have more than one-quarter of your savings in shares when you retire.

The earliest you can start drawing your retirement pension, partly or fully, is from the age of 62. If you were born in 1958 or earlier, different transition regulations apply. You can work at the same time as you draw your retirement pension.

You can draw your occupational pension when your pension agreement allows you to do so. If you have worked within several sectors, you may have more than one occupational pension.

As long as you continue working, you continue paying into the retirement pension fund. If you postpone the start of your pension payments, you will receive a higher pension for every year to choose to postpone drawing your pension. If you continue to work, then from the year you turn 66 you will pay lower income tax on your earnings, and you will benefit from a higher tax-free income allowance.

The Swedish Tax Agency website will show you how your income tax will be impacted by the size of the pension you plan to withdraw. The cut-off point for 20% state income tax is an annual income of 554,900 kronor. If you have turned 65, the cut-off point is 618,700 kronor. These cut-off points apply for 2022.

When you want to start drawing your retirement pension you should contact the Swedish Pensions Agency and send in your application no later than three months before you want your first payment. Your insurance company(s) will automatically send you a pension application form to your home address a few months before you reach retirement age.

The Swedish Consumer Agency estimates that we are pensioners for approximately one-fifth of our lives. You can draw up a budget for your life as a pensioner on the Swedish Consumer Agency website. On the minPension website you can see your total pension and make calculations for different pension withdrawal rates.

It is possible to temporarily pause payments of your retirement pension and to restart payments later on. However, it is not possible to pause payments of your occupational pension and private pension insurance.

For the occupational pension and private pension, the shortest payment period is generally 5 years and payments may only start in the month after you turn 55. If payments end in the month you turn 65, the shortest period for your private pension payment is 3 years. The shortest payment period for VFF Pension’s occupational pensions is 5 years.

If you have insurance with repayment cover your beneficiaries will receive your money if you pass away before your entire pension has been paid to you. After payment has commenced, it is not possible to add or delete repayment protection. However, you may alter the sequence of your beneficiaries after payment has commenced. If you have a pension insurance without repayment cover it may be a good idea to draw this first, before you start drawing your pension insurance with repayment cover. If you do not have repayment protection, you get a higher pension.

Unemployment benefit is coordinated when you start drawing your retirement pension and occupational pension. This means that your unemployment benefit will be reduced by the amount that you receive in the form of your pension. However, there is no coordination with any private pension insurance you may have.

On the Swedish Pensions Agency website you can see if you are entitled to housing supplement or supplementary pension. In order to get a housing supplement, your net income must be lower than 15,000 kronor (if you´re not married). It makes no difference whether you live in a rented or purchased apartment. If you have any questions regarding housing supplement please contact the Swedish Pensions Agency.

If you are thinking of moving abroad, bear in mind that you may lose any guaranteed pension you receive if the country you move to is outside the EU. If you do not have any significant connection to Sweden, taxation is 25 % or lower (under the rules for Special Income Tax on Non-Residents or SINK) if Sweden has an agreement with the country to which you want to move.

Contact any of our insurance administrators by calling +46 (0)31-66 12 10. Also contact your other insurance providers.

Swedish Pensions Agency website:
minPension website:
Consumer Association website:

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