Swedish employers to contribute SEK 220bn to occupational pensions in 2020

Swedish employers are expected to contribute a total of SEK 220bn to occupational pensions this year, according to the Swedish Pensions Agency.

Approximately nine out of ten employees receive contributions that are paid into a collectively agreed occupational pension. Even employers who do not have a collective agreement can offer occupational pension solutions to their employees.

However, the Swedish Pensions Agency warned that anyone without an occupational pension may need to save more elsewhere to compensate.

Swedish Pensions Agency pension specialist, Agneta Claesson, said: “Anyone who is employed by an employer without an occupational pension or an entrepreneur with a sole proprietorship or limited liability company may need to compensate for a non-occupational pension. By getting a pension forecast, you often get a good picture of your future pension situation.”

It comes as Swedes are about to receive the annual deposits into their pensions, which the agency estimates will total SEK 552bn. As well as the SEK 220bn in occupational pension contributions, it also accounts for SEK 288bn towards the income pension and SEK 44.5bn to the premium pension.

A total of 18.5 per cent from a pension saver’s salary goes towards their future pension, with 2.5 per cent going towards the premium pension and the rest to the income pension.

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