Your occupational pension supplements your state pension. By choosing where parts of the money should be invested, for example, you can exert some influence.
Which occupational pension agreement applies to you?
- If you work for a company that is affiliated with BAO, the Swedish banking employers’ association, your collectively agreed pensions consist of two parts of the BTP plan - BTP 1 and BTP 2.
- If you work for a company that isn’t affiliated with BAO, but that has a collective agreement, there is usually a company policy in accordance with the ITP occupational pension scheme for salaried employees in the private sector.
- If you work for a company that doesn’t have a collective agreement, you will not automatically receive an occupational pension. You are advised to ask your employer about what pension provisions they offer.
Occupational pension may also include health insurance and survivor's protection
Occupational pension is not just a pension that you receive after you stop working. It also consists of a health insurance where you can receive compensation in addition to the compensation you receive from the Swedish Social Insurance Agency (Försäkringskassan) if you should become unwell. It also consists of survivor's protection for your loved ones if you should pass away.