ITPK
In addition to your life-long retirement pension from Alecta, you will also receive a complementary pension component know as ITPK. The extra “k” in the name stands for complementary (“kompletterande” in Swedish) retirement pension. You can have this with us or with another company.
When you reach the age of 28, your employer starts to pay a premium that corresponds to 2% of your salary for your ITPK. You can choose between traditional management and fund management. The pension is paid out for five years from the date you retire, i.e. between the age of 65 and 70. You can choose a different payment period if you wish. The size of your ITPK pension depends on the return on the money and the management costs of the company. You will receive an annual statement showing how the money has developed.
If you do not make a choice
If you do not make an ITPK choice, your money will be managed by Alecta. The statement sent to you by Collectum, which also administers the ITPK choice, will then specify ITPK with Alecta. You might have some ITPK with Alecta even if you chose another company. This is because the money was paid to use before you made your choice.
Survivors’ protection
When you make your ITPK choice, you can also decide who should receive the money in the event of your death.