The various parts of the pension consist of a national public pension from the state, usually an occupational pension from the employer and possibly own savings. You may need to apply yourself in order for you to receive all parts of your pension.
It is up to you to decide at what age you want to start taking out all or part of your national public pension, but you cannot do it earlier than at the age of 62. You have the right to work until you reach the age of 68 (valid from 2020). In some cases, you can work longer if you and your employer agree on it.
Some occupational pensions are paid automatically when you reach the age of 65, while you need to apply for other occupational pensions. Contact your occupational pension company to find out what applies to you. The time you choose to start your withdrawal is very important to how large your pension will be.
The national public pension is paid out as long as you live. Payment of the occupational pension and own savings may be made for a limited period.
Before you apply for a national public pension
Apply approximately three months before you want your first payment. If you have worked or lived abroad, you should apply six months before you want your first payment. If you live outside Sweden, read more under the heading Plan your pension if you live or plan to live outside Sweden.
Your tax changes and will be lower, in most cases, lower from January of the year you turn 66, regardless of when you start taking out your pension or if you are still working and earning a salary.
Decide if you want to take out the entire pension or parts of it. You can choose to take out 25, 50, 75 or 100 percent of your pension. You can continue working and take out a pension at the same time.
The later you take out your pension, the higher your pension will be. This is because the pension is paid out for fewer years. Continued work also gives you a higher pension. When life expectancy increases, younger people need to expect to work a few years longer to receive a pension that, in terms of size, corresponds to previous year's.
If you receive a low income-based pension, you may be entitled to a guarantee pension. You do not need to apply separately for a guarantee pension, as it is automatically included when you apply for a national public pension. You cannot receive a guarantee pension until you have reached the age of 65. It is proposed that 65 years should be increased to 66 years from 2023. It will then apply to those who were born in 1958 or later.
Find out for yourself if you need to apply for an occupational pension
Most people who have worked in Sweden have an occupational pension from their employer. Some occupational pensions are paid out automatically when you reach the age of 65, while you need to apply for other occupational pensions.
In most cases it is possible to take out the occupational pension throughout your whole life or for a shorter period of time, for example for 5, 10, 15 or 20 years time. It is important to consider how you choose to take out your occupational pension, as the choices you make cannot be changed afterwards. Contact the pension company that manages your occupational pension to find out what applies.
If you live or plan to live outside Sweden with a pension, you have the right to have your income-based pension paid to the country you live in.
The income pension complement is paid as a supplement to the national public pension. The income pension complement can be paid if you live in Sweden or within the EEA or Switzerland (EEA is the EU countries as well as Norway, Iceland and Lichtenstein) or a country which Sweden has signed social security agreements with. You do not need to apply separately for the income pension complement, as it is automatically included when you apply for a national public pension. You can receive an income pension complement when you have reached the age of 65.
The amount you may receive is affected by your income-based national public pension and your old age pension from other EU/EES-countries or Switzerland. Your year of birth affects how many years of pensionable income you need to be able to receive an income pension complement with an unreduced amount.
If you have had a low or no income in Sweden, you will receive a low or no income-based pension. Your national public pension may then consist of a guarantee pension that can be paid from the age of 65. It is calculated on the time you have been a resident in or insured through work in Sweden, marital status, the size of your income-based national public pension and widow’s pension from Sweden, survivor’s pension from an EEA country as well as Switzerland (EEA is the EU countries as well as Norway, Iceland and Lichtenstein) and old age pension, survivor’s pension or disability pension from countries outside the EEA.
Guarantee pension is paid in accordance with temporary Swedish regulations to the person residing in an EEA country or Switzerland. To be entitled to a guarantee pension when you live in Sweden, you must have lived or worked in Sweden for at least three years. If you live in the UK and are applying for a pension after the time the UK left the EU (1 February 2020), the guarantee pension cannot be paid out.
We recommend that you apply six months before you want your first payment of your Swedish pension. Contact customer service if you have questions regarding what applies to the country you live in.
If you live in another EEA country or Switzerland, you must apply for your Swedish pension in the country that you live in. The authority corresponding to the Swedish Pension Agency of that country then sends your application to Sweden.
If you live outside the EEA or Switzerland and are about to retire, you must submit a pension application via a form. Sweden has signed social security agreements with a number of countries outside the EEA, these agreements can affect which pension you receive and which country you should apply from.
On minPension.se, there is the Withdrawal Planner, which is a tool that helps you plan how you can take out your pensions. The tool gives you an overview of your entire pension and you will find out what your pension will be per month after tax.
The withdrawal planner is primarily intended for those who are considering taking out any part of or a full pension within one year. In order to use the service, you must be at least 54 years of age, have earned towards your pension in Sweden and have an e-ID that is approved in Sweden.