Retirement pension

Every year, 18.5 per cent of your income (up to 7.5 times the base amount) before tax is set aside for your retirement pension. 2.5 per cent of your income goes toward your premium pension.

For people born in or after 1938, the retirement pension may consist of income pension, supplementary pension, premium pension and guarantee pension. People born between 1938 and 1953 also get a supplementary pension.

The supplementary pension is part of the retirement pension. It replaces ATP which was part of the previous pension system. It is an income-based pension that is based on the pension points you accrued during all your years of work. The more and the higher pension points you have, the higher your supplementary pension.

When you pass away, your remaining pension savings will be shared between other pension savers and pensioners, this money is known as inheritance gains. Your pension savings do not go to your heirs.

However, you can sign a survivor protection plan when you apply to start receiving your premium pension. Survivor protection applies to your spouse, registered cohabitee or partner with whom you have or have had children or to whom you were married. This pension is paid out as long as one of you remains alive.

If you sign up for survivor protection, the monthly pension is lower since it may continue to be paid out even after you pass away. The exception is when survivor protection is applied for later.

You can apply for survivor protection later if you get married, register a civil partnership, or start cohabiting with someone which whom you have or have had one or more children.

You must apply for survivor protection within three months of the start of your marriage, registered partnership or cohabitation. However, protection only becomes valid one year after we receive your application.

You may not apply for survivor protection later if you were married, or became a registered partner or cohabitee with the same person that you were together with the first time you applied for your premium pension.

65 is the most common age of retirement, but more and more people start drawing their pensions at some other time. More people are retiring later, but even more people are retiring before they get to 65. Of these, however, many continue to work and combine income from their pension with income from employment.

The retirement pension consists of two components, firstly the income, premium and supplementary pensions, which you have earned by working throughout your life and for which you have paid your own fees, and secondly (for some people) the guarantee pension that the state pays out.

Regardless of where you settle, you have the right to receive the part of the pension that you have earned yourself. The guarantee pension, which is a tax-financed basic protection for those who have had little or no work income during their life, on the other hand, cannot normally be taken with them if they move outside the EU.

All your other earned pensions, including Volvo Företagspension and other occupational pensions, will be paid to you regardless of which country you move to. If you do not have a substantial connection to Sweden, the tax is 25% (SINK) or lower if Sweden has an agreement with the country you are considering moving to. You apply for SINK tax at the Swedish Tax Agency.

Keep in mind that if you change to a new address abroad in the future, we will not receive information about this, but you must report your new address directly to us, either via email or regular letter.