If you are a salaried employee in the private sector, and your employer has a collective agreement (kollektivavtal), you are entitled to a retirement pension from ITP occupational pension.
Your employer pays a premium for your retirement pension every month. You can make a few choices for this pension:
- How and by whom the whole pension, or a part of it (depending on whether you have ITP 1or ITP 2), should be invested.
- If you want to add cover for your family, in the event of your death.
- To have your pension paid for life or over a shorter period.
* Collectum charges an administration fee which is currently 1.0 per cent of paid-in premium (For ITP 1 the maximum amount deducted is SEK 450 per year). Collectum’s fee is deducted from the premium before it is transferred to the insurance company of your choice.
Defined contribution pension, from 25 years of age
The contribution, but not the size of the pension itself, is pre-determined. The contribution, or premium, is equivalent to
- 4.5 percent of the salary up to SEK 46,438 (7.5 times the income base amount)
- 30 percent of the portion of the salary over SEK 46,438 and up to SEK 185,750.
The entire ITP 1 pension premium is invested according to your choice.
If your salary per month is ...
... the premium per
The premium amount
Defined benefit retirement pension
The ITP 2 retirement pension is benefit-defined. The size of the pension itself, but not that of the contribution, is pre-determined. The ITP 2 pension is managed by Alecta. External link.
Income base amount
Pension as a percentage
557,250 - 1,486,000
1,486,000 - 2,229,000
Defined contribution ITPK
Salaried employees also have a defined retirement pension, the ITPK. The premium is equivalent to 2% of the monthly salary.