Har du jobbat i Sverige men har svårt att förstå svenska? Här förklarar vår pensionsekonom på engelska det svenska pensionssystemet och minPension.se.

The Swedish pension system consists of three parts: the national public pension from the state (by law), the occupational pension from your employer (collective agreement or other agreement) and private pension (optional).

Everyone who has earned pension in Sweden can log in to minPension and see their entire pension and make pension forecasts. The service is run and financed half by the state and half by the pension companies. This means that minPension is a neutral and independent website that is free of charge for the user. To get started, you have to log in and agree to the terms and conditions. All you need is an e-identification, most common is Bank-ID but you also have the option to use Freja eID+.

If you want to translate the texts on minPension, you can use the Google Chrome browser. To make it work on the logged-in pages as well, you need to download the Google Translate add-on in Chrome web store.

minPension has several tools that help you understand how your pension is structured:

Pension forecast

The default screen when you log in is your pension forecast. Your pension forecast is an estimate of your future pension. The forecast is based on how much pension you have earned so far, as well as how long you are going to keep working, the expected return on your pension savings, how well the Swedish economy does and other future developments. Here you can see how your forecast is affected by different retirement ages. You can view you forecast in tabular format or as a chart.

Earned pension

In the earned pension tab you can see the pension you have earned so far. You can see your total pension or divided into national public pension, occupational pension and private pension. You can see the distribution between different pension companies and how much of the capital you can invest yourself, e.g. choosing funds for premium pension or occupational pension.

Pension simulator

In the simulator you can test how different life choices affects your pensions. Here you can see what happens to your pension if you change jobs, get a different salary, withdraw your pensions at a different period than default or get a different value development. The diagram is shown as a forecast and in detail for your various pensions.

Pension statistics

The pension statistics tab shows how your pension forecast compares to others. You can compare yourself with women, men, different ages and collective agreements. The size of your pension depends on many factors, e.g. how many years you worked and paid taxes, what salary you have and if you have occupational pension for your entire career. Based on the results you can get tips and general advice what you can do to get the pension you want.

Withdrawal planner

If you plan to retire in the near future or in coming years you should try the withdrawal planner. This tool give you an overview and an estimate what your pension will be each month after tax. You can create and compare different pension plans with each other to see how they differ. When you have chosen the pension plan that suits you best, you will receive a checklist that will support you in the further process of withdrawing the pensions.  Before making a final decision about your pension withdrawals, you should always contact the Swedish Pensions Agency (Pensionsmyndigheten) and the pension companies.

In general, your pension depends on how many years you spend working throughout the course of your life, if you work full- or part-time, if you have occupational pension and when you choose to retire. Investment choices for your occupational pension and premium pension can also make a difference.

Text: Dan Adolphson Björck, pension expert

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