PA 03 Occupational pension and National retirement pension

PA 03 - Occupational pension and National retirement pension Section for salaries and pension 2020 -10 -03 www. gu. se

Source: SVD: s pensions guide Section for salary and pensions 2020 -10 -03 www. gu. se

PA 03 agreement • retirement pension • survivor´s pension • disabilaty pension Section for salaries and pension 2020 -10 -03 www. gu. se

Retirement pension • defined-contribution pension 1. Individual retirement pension 2. Supplementary retirement pension • defined-benefit retirement pension Section for salaries and pension 2020 -10 -03 www. gu. se

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 insurance 2. insurance company 3. with or without repayment cover • Lifelong payment, earliest from the age of 61. Section for salaries and pension 2020 -10 -03 www. gu. se

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. Section for salaries and pension 2020 -10 -03 www. gu. se

Defined-benefit retirement pension • Earn from the age of 28 • What affects the amount? 1. 2. 3. the length of your pensionable time of service 60% of the component of your pensionable salary between 7, 5 and 20 income base amounts (present amount 426 750 - 1 138 000 SEK) Special transitional provitions: born between 1943 and 1972 (born between 1946 and 1976 for employees at Chalmers) Section for salaries and pension 2020 -10 -03 www. gu. se

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. Section for salaries and pension 2020 -10 -03 www. gu. se

pensionable income and pensionable salary • Pensionable income includes: 1. 2. 3. your fixed salary other cash emoluments (not overtime compensation) 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). Section for salaries and pension 2020 -10 -03 www. gu. se

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 Section for salaries and pension 2020 -10 -03 www. gu. se

Special transitional provitions if you are born 1943 -1972 If you are employed at Chalmers the percentages correspond to the age group 19461976 Section for salaries and pension 2020 -10 -03 www. gu. se

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 Section for salaries and pension 2020 -10 -03 www. gu. se

Survivor´s pension • Survivor´s pension for adults • Survivor´s pension for children • Group life insurance Section for salaries and pension 2020 -10 -03 www. gu. se

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. Section for salaries and pension 2020 -10 -03 www. gu. se

National retirement pension • Income pension • Premium pension (individual choice) • Guarantee pension (complement to earnings-related pension) Section for salaries and pension 2020 -10 -03 www. gu. se

How you earn your national retirement pension • • Salary Sickness benefit Parental benefit Unemployment benefit • Sickness- or Activity compensation • Activity grant • Pensionqualifying amounts (years spent with children, higher studies) Premium pension Individual choice 2, 5 % 18, 5 % 16 % Government manage the income pension Section for salaries and pension 2020 -10 -03 www. gu. se

Individual information (www. pensionsmyndigheten. se) Section for salaries and pension 2020 -10 -03 www. gu. se

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! Section for salaries and pension 2020 -10 -03 www. gu. se

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 Section for salaries and pension 2020 -10 -03 www. gu. se