Swedish pensioners’ income amounts to 82% of working-age income

Swedish pensioners’ income in retirement amounts to 82 per cent of the income earned by the working-age population, according to the Swedish Pensions Agency.

The report by the Swedish Pensions Agency found that the living conditions of Swedish pensioners are “generally good” in relation to the rest of the population. When the composition of the total household income after tax is taken into account, pensioners have 82 per cent of the economic standard for the population aged 20 to 64.

“The report broadens our picture of pensioners' finances. If you take into account the number of people in the household and calculate income after tax from salary, pension, allowance and capital, the pensioner is on average quite well compared to the rest of the population,” Swedish Pensions Agency analyst, Erik Ferm, said.

Other studies that have examined pensioners' views on their finances show that they worry much less about their finances compared to those who work, a finding that strengthens the picture that emerges from the report.

However, the Swedish Pensions Agency stressed that its assessment does not mean that the financial situation of all pensioners is good. Older single pensioners have the worst finances, a group with a predominant proportion of women. The economic standard among single women over the age of 80 is on average about half the standard of the population aged 20 to 64.

“Those who live with someone usually achieve better purchasing power by often sharing, for example, the rent, newspaper subscription or purchase of furniture, which provides a better financial standard. In addition, there are seven times more single women aged 80 or older than single men of the same age. In other words, significantly more women experience the disadvantages of living alone,” Swedish Pensions Agency analyst, Linnea Wikmark Kreuger, said.

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