The national public pension is based on your total income in Sweden throughout your working life. Every year that you work and pay taxes, you earn towards your national public pension.
It is the Swedish Pensions Agency that administers and pays out the national public pension consisting of several different parts – income pension, income pension complement, premium pension and guarantee pension. The national public pension is paid out for as long as you live.
The longer you choose to work, the higher your monthly pension will be for the rest of your life. This is because the pension is paid for fewer years, but also because you continue to earn towards your pension. The salary development in Sweden and the premium pension funds you have chosen also affects your pension.
If you were born between 1938-1953, a supplementary pension can also be included in your national public pension. If you were born in 1937 or earlier, your national public pension consists of a supplementary pension, an income pension complement and any guarantee pension.
Even if you are on parental leave, studying with study grants, doing compulsory service (basic education in military service), receiving sickness or activity compensation or are receiving unemployment benefits, you will receive compensation for your pension from the state.
You can also receive extra money deposited into your national public pension during your child's first four years of life. If you have adopted your child, you can be entitled to pension for the first four years that you have had the child in your care, no longer than until the year when the child reaches the age of 10.
If you live in Sweden and have a low pension, you can also apply for a housing supplement and income support for the elderly.
If a loved one dies, you can receive a survivor's pension, which is financial support for the loss of income for you as a survivor.
Different parts of the pension system
Your pension is made up of several components.