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PA 03 - Occupational pension

and

National retirement pension

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Source: SVD:s pensions guide

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PA 03 agreement

• retirement pension

• survivor´s pension

• disabilaty pension

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Retirement pension

• defined-contribution pension

1.Individual retirement pension

2.Supplementary retirement pension

• defined-benefit retirement pension

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Individual retirement pension

• Earn from the age of 23

• 2,5% of the salary you receive every month until the retirement age of 65

• Personal choice of how the pension should be invested and managed (www.spv.se)1.traditional or unit-linked insurance2.insurance company3.with or without repayment cover

• Lifelong payment, earliest from the age of 61.

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Supplementary retirement pension(Kåpan tjänste)

• Earn from the age of 23

• 2% of the salary you receive every month until the retirement age of 65

• possible to choose repayment cover but not how the pension is managed or type of insurance.

• normally payed over a period of five years, earliest from the age of 61.

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Defined-benefit retirement pension

• Earn from the age of 28

• What affects the amount?1. the length of your pensionable time of service

2. 60% of the component of your pensionable salary between

7,5 and 20 income base amounts (present amount 426 750 - 1 138 000 SEK)

3. Special transitional provitions: born between 1943 and 1972

(born between 1946 and 1976 for employees at Chalmers)

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Pensionable time of service

• In order to receive a full amount, your time of service in employment with government pension entitlement have to amount to 30 years.

• Less time will give you a part of a full pension (Pensionable service factor, for example 180/360)

• Time of employment, including part time counts. Requires that you are employed for at least 20% of full time.

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pensionable income and pensionable salary

• Pensionable income includes:1. your fixed salary

2. other cash emoluments (not overtime compensation)3. benefits in kind in the form av board and lodging

• Pensionable salary:- the average pensionable income for the five

calendar years immediately preceding the year of retirement (65).

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Vested benefit

• What happens If you don´t stay in government employment until the age of retirement?

• You will receive a vested benefit which amounts to what you have earned in pension rights during your time of employment

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Special transitional provitions if you are born 1943-1972

If you are employed at Chalmers the percentages correspond to the age group 1946-1976

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How to aply for pension if you live outside Sweden

• Notification of a move from Sweden shall be given in writing to the Swedish Tax Agency. SPV should also be given notice of a change of address abroad.

• Application form, see www.spv.se

• Give the bank in Sweden, at the moment Nordea Bank, notice to which bank they can transfer your money.

• Certificate of existence

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Survivor´s pension

• Survivor´s pension for adults

• Survivor´s pension for children

• Group life insurance

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Disability pension

• A supplement to sickness compensation from the Swedish Social Insurance Agency (Försäkringskassan).

• Full or partial compensation corresponding in scope and term with the decision made by Försäkringskassan.

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National retirement pension

• Income pension

• Premium pension (individual choice)

• Guarantee pension (complement to earnings-related pension)

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How you earn your national retirement pension

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• Salary• Sickness benefit• Parental benefit• Unemployment

benefit• Sickness- or Activity

compensation• Activity grant• Pensionqualifying

amounts (years spent with children, higher studies)

18,5 %

2,5 %

16 %

Government manage the income pension

Premium pension - Individual choice

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Individual information (www.pensionsmyndigheten.se)

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Decide for yourself when to retire

• 61 year of age

• The later you retire, the higher your pension will be

• Work and receive pension at the same time

• Full pension or partial pension

• You have to aply for your pension!

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How to aply for pension if you live outside Sweden

• EU/EEA/Switzerland

• A country outside EU/EEA/Switzerland with which Sweden has an agreement

• Other country

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