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Economists Mikael Elinder and Johannes Hagen wrote in a report to SNS – and presented during Tuesday's debate on the DN – that occupational pensions are difficult and difficult for savers to understand. Is it true?
1
Yes and no Both authors write that the current occupational pension plan is easier to understand than previous systems. Admittedly, there are differences between different occupational pensions that can be difficult to understand and that may be of great importance for future retirees.
Large, collectively agreed occupational pensions have changed several times since the early 1990s, making the system difficult to predict – and therefore the consequences of various choices such as savers can have far-reaching consequences.
What can employees and savers do to make sure they receive a reasonable pension?
2
It does not hurt to get into the basics after a short internship.
The reason is the general government pension administered by the Pension Authority. It consists of three parts: the income pension, the bonus pension and the guarantee pension.
The income annuity is the biggest and it depends on how long you have worked in your life. Every year, the employee earns pension points and, quite simply, we can say that the higher the number of hours worked, the higher the pension. But, and it's important, but there is a ceiling on income. On income above the ceiling, this year corresponding to a monthly salary of 42,000 SEK, an employee can not earn more retirement points.
The pension premium represents a smaller portion of the general pension, but its importance increases. This is the part that all pension savers can invest themselves into the funds registered with the Pension Fund's fundraising fund.
The guarantee pension is exactly what it seems. It is a guarantee for those with low or no income to earn at least a basic income as a retiree.
Yes, but what is the occupational retirement for something then?
3
This is a voluntary pension negotiated between the social partners. Sweden has had occupational pensions in some form since the 18th century, but the great emergence appeared during the 20th century.
In other words, retirement pensions are pensions paid by the employer, which give the employee a supplement to the general pension.
Most employees – more than 90% – have a retirement. Most get it through their collective agreement.
The retirement pension becomes more and more important as a supplement to the general pension. The usual is that the employer deducts 4.5% of the salary each year in a premium that, in most cases, the employee can place all or part of himself. However, the options are much more limited than in the state premium pension.
One last thing. For incomes of more than $ 42,000 per month, that is, the general retirement income income cap, the employer usually sets 30% of the salary. You can say that it is a compensation for the ceiling of the general pension.
OK, a lot of numbers have understood it. What should I consider to get a good pension?
4
Work long, as much as possible full time and think about the effect of interest on the interest. This means that the sooner you enter the workforce and start earning your retirement, the better your chances of getting a good retirement.
At least once a year, you should ask yourself if you have the right savings for the pension. Was it late before you were unemployed? Have you had a lot of jobs and changed employer and sector? Then it is important that you consider private retirement savings. And, if you do not have a collective agreement, always ask the employer if it offers a retirement.
There is an excellent tool called minpension.se. Here you can make forecasts on your future pension. Use it!
Something else to think?
5
Yes, do not look for a return if you are not very interested and follow developments in the financial markets carefully. Instead, choose low fees and spread the savings to different funds with different goals.
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