Money · Sweden
Pension
Building your future in Sweden
System
Three Pillars of Pension
Sweden's pension system has three parts: public pension (allmän pension), occupational pension (tjänstepension), and private savings.
- Allmän pension
- 18.5% of salary — paid by employer + state
- Tjänstepension
- 4.5–30% of salary — employer pays (via collective agreement)
- Private savings
- ISK account or pension insurance (optional)
- Track your pension
- Minpension.se — all three pillars in one view
- Create an account at Minpension.se to see your total pension
- Check if your employer has a collective agreement (covers tjänstepension)
- Choose your premium pension fund at Pensionsmyndigheten
- Consider supplementing with private savings via ISK account
How it Accumulates
How Pension Builds
Your public pension is based on lifetime earnings. Every year you work and pay tax in Sweden, you earn pension rights.
- Inkomstpension
- 16% of pensionable income
- Premiepension
- 2.5% — you choose the fund
- Earnings ceiling (2025)
- SEK 614,500/year (income above this earns no public pension)
- Minimum years for full guarantee
- 40 years residence in Sweden
- EU coordination
- Pension rights from EU countries count toward Swedish pension
- Verify your annual pension statement at Minpension.se
- Choose or review your premiepension fund selection
- Check if earnings from other EU countries are credited
- Consider additional savings if your income exceeds the ceiling
Official sources
Retirement Ages
When You Can Retire
Sweden has flexible retirement — you can start drawing pension from 63, but the longer you wait, the higher the monthly payout.
- Earliest withdrawal
- Age 63 (allmän pension)
- Guarantee pension age
- Age 66 (2025, rising to 67 in 2026)
- Right to work until
- Age 69 (employer cannot force retirement before)
- Best strategy
- Each year you delay increases monthly pension ~7–8%
- Leaving Sweden
- You keep your earned Swedish pension wherever you live
- Check your projected pension at different ages on Minpension.se
- Decide when to start drawing allmän pension
- Apply to Pensionsmyndigheten 3 months before desired start date
- Notify your tjänstepension provider separately
- Consider partial pension — work part-time and draw partial pension
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