Your occupational pension is not only a benefit for you. It can also help your family in the event of your death. Your occupational pension includes various forms of cover, which are either included or optional supplements.
The cover includes:
Cover can be added:
You have cover for your surviving family members that is paid out as a single payment. It is called TGL or Occupational group life insurance. The amount of the single payment depends on your age, and is recalculated on an annual basis on your birthday. Should you, at the time of death, have children under the age of 20, they will receive extra compensation.
The compensation is paid out, on the first hand, to spouse or registered partner. If there are no spouse or registered partner the compensation is paid out to children and then to parents. If you would like someone else to receive the money, you must fill in a specific form, a beneficiary clause. This also applies for cohabitants, who are not automatically covered by TGL. The beneficiary clause form can be downloaded from Collectum’s website.
You can add a repayment cover to your occupational pension. A repayment cover means that we pay out the pension capital in your retirement pension, it is paid out as a monthly pension. The payment is made, on the first hand, to spouse, registered partner and cohabitant, and secondly to children.
You can also choose someone else to receive the money, within the framework of the income tax legislation. In this case, you must fill in a specific form, a beneficiary clause.
Repayment cover implies that your pension will be slightly smaller.
You can add a family cover which is paid to your family should you die during the period in which payments are made to the insurance policy. A set amount is paid every month. You can choose from one to four price base amounts to be paid out for 5, 10, 15 or 20 years.
The cost for the family cover is deducted from your premium, which means that you will receive a smaller retirement pension. The cost for the family cover increases according to your age, the number of basic amounts and the length of the payment period you have chosen.
The cost for the family cover is determined on an annual basis. You can find out the cost on Collectum’s website, where you can also add the family cover to your pension plan.
If your monthly salary exceeds SEK 39,590, a family pension is included. This is paid to your spouse or registered partner for life. Remember that cohabitants are not eligible for a family pension. If you have children under the age of 20, they will also be compensated for by the family pension.
The size of the pension depends on your salary at the time of your death and on calculated period of service within ITP. It is calculated as a basic amount which is then paid to your surviving family members in accordance with the established rates.