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This is ITP

ITP is a collectively agreed pension that you have through your employer. Your ITP occupational pension gives you, as a salaried employee in the private sector, extra security on the day you retire. You can also benefit from it if you should become ill for a long period.

The occupational pension ITP includes

  • retirement pension
  • a disability pension, if you are ill for a long period
  • repayment cover and family cover – which you can choose so that your immediate family can receive money in the event of your death.

You also have an occupational group life insurance (TGL), which provides
compensation to your immediate family if you die before you retire.

ITP 1 and ITP 2

You have either ITP 1 or ITP 2, depending on your age. (If the company has applied for and been granted ITP 1 for all salaried employees, ITP 1 may apply for everyone, regardless of their year of birth.)

  • ITP 1, for salaried employees born in 1979 or later, includes a defined contribution retirement pension.
  • ITP 2, for salaried employees born in 1978 or earlier, includes a defined benefit retirement pension.

What choices can you make?

You can invest the money that your employer pays for your ITP retirement pension by making an ITP 1 choice or an ITPK choice (if you have ITP 2). You can also choose repayment cover and/or family cover, so that your family can receive compensation in the event of your death.

The ITP agreement

ITP occupational pension is the result of an egreement between PTKexternal link (the Council for Negotiation and Co-operation for Salaried Employees), which is a joint organization of 27 member unions, representing 860 000 salaried employees in the private sector in Sweden, and Svenskt Näringslivexternal link (the Confederation of Swedish Enterprise), representing 49 member organizations and 60 000 member companies with over 1.6 million employees.

Read more

The differences between ITP 1 and ITP 2

ITP 1

for salaried employees born in 1979 or later

Defined contribution pension, from 25 years of age

Starting at the age of 25, salaried employees begin to earn a defined contribution pension. 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 41,750 (7.5 times the income base amount)
  • 30 percent of the portion of the salary over SEK 41,750.

The entire ITP 1 pension premium is invested according to your choice.

All salaried employees are eligible for disability pension from ITP after 90 days of sick leave, on the condition that they simultaneously receive benefits from the Swedish Social Insurance Agency.external link

Occupational group life insurance TGL, from 18 years of age
Salaried employees who work an average of at least 8 hours a week must have TGL.

Family cover and repayment cover
These covers are optional for salaried employees.

Family pension
Family pension is not included in ITP 1.

ITP 2

for salaried employees born in 1978 or earlier

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

Defined contribution ITPK
Salaried employees also have a defined retirement pension, the ITPK. The premium is equivalent to 2 % of the monthly salary. The ITPK pension premium is invested according to your choice.

All salaried employees are eligible for disability pension from ITP after 90 days of sick leave, on the condition that they simultaneously receive benefits from the Swedish Social Insurance Agency.external link

Occupational group life insurance TGL
Salaried employees who work an average of at least 8 hours a week must have TGL.

Family cover and repayment cover
These covers are optional for salaried employees.

Family pension
For employees with an annual salary in excess of SEK 501 000. Spouses or registered partners and children up to 20 years of age are eligible for family pension, although cohabitants are not.

Call us

Private: +46 8 508 980 00 (from abroad) 020-40 85 00 (from Sweden)

Companies: +46 8 508 981 00

Phone hours

Monday-Friday 8:30–16:30

Postal address

103 76 Stockholm

Download choice forms and information about ITP.