Charlotta, Pension Officer
With an occupational pension from Alecta, you can feel secure throughout your entire life.
ITP Occupational pension - a three-part package
With an occupational pension you receive a complete package, providing security both during, and after, your working life. You employer pays the contributions. All you have to do is have an enjoyable work life and receive your salary.
You have either ITP 1 or ITP 2
To receive an ITP occupational pension you need to work as a salaried employee in the private sector, or work in a workplace with a collective agreement.
- If you were born from 1979 onwards, your occupational pension is ITP 1*.
- If you were born in or before 1978, your occupational pension is ITP 2*.
A complete package — that you can customise if you want to
The occupational pension is a complete package and you do not actually need to do anything at all unless you want to. There are a few things you can do if you would like to customise/Anpassa your occupational pension so it suits you a bit better, such as add extra financial coverage for your survivors.
*If your employer has chosen to sign up for an ITP 1 occupational pension for all employees, you may have an ITP 1 occupational pension, even if you were born in 1978 or earlier, instead of ITP 2. If your annual income is over SEK 625,000, you may have come to an agreement with your employer to have an ITP 1 occupational pension instead of ITP 2.
Your occupational pension makes up a significant part of your whole pension. For many of us, our occupational pension can be as much as a third of our total pension.
RETIREMENT PENSION IN ITP 1 AND ITP 2 WITH ITPK
|ITP 1 Retirement pension||ITP 2 Retirement pension||ITPK|
| Pension size
|Depends on the size of the pension capital when you retire.||A certain percentage of your salary.||Depends on the size of the pension capital when you retire.|
| The amount paid in
|A certain percentage of your salary.||As much as is needed so that you get the amount decided in the agreement.||A certain percentage of your salary.|
| How your pension can be paid out
|From 66 and for the rest of your life. You may also choose another payment period.||From 65 and for the rest of your life. You may also choose another payment period.||From 65 and for the rest of your life. You may also choose another payment period.|
If you suffer from a long-term illness or disability you can receive compensation from your occupational pension. The benefit is called ITP disability pension and is paid out by Alecta. Your employer sends the notification of illness — you do not need to do anything.
You can receive disability pension
If you are over 18 and have an employer who contributes to an ITP occupational pension, and if:
- you have been ill for over 90 consecutive days, or 105 non-consecutive days within a one year period
- you have been signed off work part-time (at least 25% sick leave)
- you are receiving compensation from the Social Insurance Office (Försäkringskassan), in the form of daily sickness allowance, rehabilitation benefit, sickness compensation or activity compensation.
How much you receive
How much disability pension you receive and for how long is linked to your salary and the compensation you receive from the Social Insurance Office.
- See how much you will receive from Alecta if you fall ill on My pages.
- See the total amount you will receive from your employer, the Social Insurance Office and Alecta if you fall ill on www.ersattningskollen.se.
Your occupational pension can also help your family financially should you die as the plan provides survivor´s protection. A certain degree of protection is included, and you can also choose to add more.
Survivor´s protection that’s included
- Occupational group life insurance, TGL, which will be paid as a lump sum to your closest family when you die.
- ITP 2 family pension, which is included if you have an ITP 2 occupational pension and if your monthly salary is SEK 45,676 or higher. This is paid to your family monthly after you die.
Survivor´s protection you can add
- Repayment cover, which means that your family will receive the pension capital in your ITP 1 retirement pension or ITPK when you die.
- ITP family cover which gives your family a certain monthly sum if you die before you reach 65.
- See the survivor´s protection you have through Alecta on My pages.
- Add or remove survivor´s protection and change designated beneficiaries on Collectum.se.
Find out what you need to know about occupational pensions in only four minutes.