How to receive your pension benefits

1. Get an overview of all of your pension benefits

Your pension benefits will probably be paid from a variety of organisations. When it’s time to retire, most people are entitled to a state pension from the Swedish Pensions Agency, an occupational pension from their employer, and they might also have private pension savings. To get more comprehensive information on your pension benefits, you can get an overview by visiting minpension.se.

On minpension.se you can:

See the total pension you have earned up until today’s date.
Run a simulation to see approximately how much you can expect to receive in pension benefits each month.

In some cases your retirement pension from Alecta is not shown on minpension.se. This happens, for example, if you are on sick leave and receive disability pension from us. To see how much you will receive, you can log on to Mina sidor (My Pages) at alecta.se.

2. Calculate your pension from Alecta

The amount of pension benefits you will receive from Alecta depends on aspects such as when you retire and the period over which you wish to receive your pension benefits.

You can easily find out how much you will receive when you retire by consulting Mina sidor. You can calculate how much you will receive using different payment periods to determine what suits you best.

3. Check if you require repayment cover

The repayment cover means that your family will receive the amount left in your
ITP 1 Retirement pension or ITPK when you die.

If you have a repayment cover there may be reasons to remove this cover as you approach retirement age, for example if your children have reached adulthood. By removing repayment cover you will not need, you will increase the amount of your own pension.

On Mina sidor you can see if you currently have repayment cover, and you can calculate the amount of your pension benefits if you were to remove that cover.

4. Begin receiving your benefit of your
ITP 1 Retirement pension

You can decide yourself when and how you wish to start receiving your pension benefits. If we don’t hear from you, your pension benefits from Alecta will be paid automatically from the age of 66. If you want to withdraw the pension earlier or later than from the age of 66, you need to log in to Mina sidor and register your pension choices.

Retirement at 66

Alecta will contact you three to six months before you turn 66.
You can change the payments, and register your bank account and tax details on Mina sidor up until we begin to pay your pension benefits.
If you have not provided this information, you will receive a reminder from us when it’s time for your benefit payments to begin.
On the 25th of the month in which you turn 66, you will receive your pension benefits and a letter detailing your payments from us.

Retirement before 66

You can withdraw your pension at the earliest from the month after you turn 55.

Log on to Mina sidor and choose the service Räkna på din pension between one to six months before you want the payments to start.
On Mina sidor, you can choose from when you want to start to receive the payments, the length of the period during which your pension benefits should be paid, and also inform us of your bank account details.
On the 25th of the month you choose to begin receiving your payments, you will receive your pension benefits and a letter detailing your payments from us.

Retirement after 66

It is possible to begin the payment of your pension benefits after the age of 66 if you wish.

Log on to Mina sidor and use the service Skjut upp din pension between one to six months before you turn 66.
On Mina sidor, you can select the month and year from when you want the payments to start.
We will contact you three to six months before the payment of your pension benefits are due to begin.
You can change the payments, and register your bank account and tax details on Mina sidor up until we start paying out your pension.

5. Begin receiving your benefit of your ITP 2 Retirement pension and ITPK

You can decide yourself when and how you wish to start receiving your pension benefits. If we don’t hear from you, your pension benefits from Alecta will be paid automatically from the age of 65. If you want to withdraw the pension earlier or later than from the age of 65, you need to log in to Mina sidor and register your pension choices.

Retirement at 65

Alecta will contact you three to six months before you turn 65.
You can change the payments, and register your bank account and tax details on Mina sidor up until we start paying out your pension benefits.
If you have not provided this information, you will receive a reminder from us when it’s time for your benefit payments to begin.
On the 25th of the month in which you turn 65, you will receive your pension benefits and a letter detailing your payments from us.

Retirement before 65

You can withdraw your pension at the earliest from the month after you turn 55.

Log on to Mina sidor and use the service Räkna på din pension between one to six months before you want the payments to start.
On Mina sidor, you can choose from when you want to start to receive the payments, the length of the period during which your pension benefits should be paid, and also inform us of your bank account details.
On the 25th of the month you choose to begin receiving payments, you will receive your pension benefits and a letter detailing your payments from us.

Retirement after 65

It is possible to start receiving your pension benefits after the age of 65 if you whish.

Log on to Mina sidor and use the service Skjut upp din pension between one to six months before you turn 65.
On Mina sidor, you can select the month and year from when you want the payments to start.
We will contact you three to six months before the payment of your pension benefits are due to begin.
You can change the payments, and register your bank account and tax details on Mina sidor up until we start paying out your pension benefits.

6. If you live abroad

If you live abroad and would like to begin receiving your pension benefits, please send us your address.

You can do this by writing to:
Alecta
SE-103 73 Stockholm
Sweden

Payment to your bank account

Your pension benefits can be paid into a bank account in Sweden or a bank account in another country.

The pension payments are made on the 25th of every month, but if you have a foreign bank account it may take a few more days before the funds reach your account.

Your pension benefits will be paid in the currency that is most widely used in the country in which you live. If you would like to receive your pension benefit in SEK, please let us know.

Tax

If you live abroad, you may need to pay a special income tax for non-residents (SINK) to the Swedish Tax Agency. If the Swedish Tax Agency approves your application, you will receive a SINK decision notice which you sent to send to Alecta. Once you send us the decision notice we will make tax deductions accordingly.

We deduct 30 per cent tax or make a deduction in accordance with your current tax table if you do not have a SINK decision.