Sweden’s income pension to increase by 2.5% in January

Sweden’s income pension and supplementary pension are set to increase by 2.5 per cent in January 2022, the Swedish Pensions Agency has revealed.

Swedish Pensions Agency head of analysis, Ole Settergren, said that the income pension accounts for the majority of pensioners’ pension income. The pension develops in line with employees’ incomes, minus 1.6 per cent.

As the income index, which monitors the development of the average income, has increased by 4.1 per cent, the income pension is set to increase by 2.5 per cent.

Approximately 1.5 million pensioners have income and/or supplementary pensions without elements of guarantee pension or housing supplement. In addition, approximately 450,000 pensioners with some guarantee pension will receive a change in the sum of income and guarantee pension, which is between 1.5 and 2.5 per cent.

Approximately 240,000 pensioners with no or low-income pension and who have a guarantee pension and/or housing supplement will receive a 1.5 per cent increased general pension.

Furthermore, as the average income is expected to increase by 4.1 per cent in 2021 it means that the interest rate on all pension savers' income pension accounts this year will also be 4.1 per cent.

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