ITP 2 Family pension
ITP 2 Family pension is included as part of your ITP 2 Occupational pension at Alecta if your monthly salary is SEK 45,676 or higher. The pension is paid to your family monthly after you die.
How ITP 2 Family pension works
- Your salary and the length of time you have worked are decisive to the amount of benefit to be paid.
- Alecta pays out your family pension benefit.
- You can choose to opt out of future payments into your family pension and pay the corresponding amount to your ITPK instead.
- You can begin earning money towards your ITP 2 Family pension from age 28.
Who receives the benefits?
- Benefits are paid to your spouse or registered partner (not your cohabitant*).
- If you have children under 20, they may also benefit from your family pension.
You can, if you wish, request that a divorced spouse remains the beneficiary of a portion of your family pension.
*If you have the ITP Tele occupational pension your family pension benefit can also be paid to your cohabitant.
The amount paid out
ITP 2 Family pension is a defined benefit pension, and is calculated at a basic benefit level taking your salary into account.
PAYMENT OF YOUR ITP 2 FAMILY PENSION BENEFIT
|Your annual income||ITP 2 Family pension|
|Salary between SEK 557,250 and SEK 1,486,000||32.5 %|
|Salary between SEK 1,486,000 and SEK 2,229,000||16.25 %|
Your ITP 2 Family pension benefit is lower if you have not paid into ITP 2, or certain other occupational pensions, for at least 30 years (360 months). If you expect to work for less than 30 years, the amount is lower.
How the amount is allocated
Your spouse or registered partner receives the full amount if there are no children under age 20.
If there are children under 20, your spouse or registered partner receives 75 per cent of the basic benefit level, while the children’s share depends on how many children there are.
|Beneficiary||Percentage of basic benefit level|
|Spouse or registered partner||75 %|
|One child||55 %|
|Two children||75 % which is divided equally between the children|
|Three children||85 % which is divided equally between the children|
|If there are more than three children in the family the percentage increases by 10 per cent for each child.|
If there are only children under 20, that is to say there is no spouse or registered partner, the children receive the pension benefit according to specific rules. Please contact us for more information.
Children over the age of 20 may also receive family pension benefits if they are unable to work, for example due to a disability, and receive sickness or activity compensation from the Social Insurance Office.
How much does ITP Family pension cost?
ITP 2 Family pension is paid for by your employer and does not affect the size of your own retirement pension. In some cases, you are able to opt out of the family pension, resulting in a higher retirement pension instead.
Conditions for ITP 2 Family pension
In order for ITP 2 Family pension benefits to be paid to a spouse or registered partner, the following applies:
- If you were aged 60 or over when you married, you must have been married for at least 5 years, or have children together when you die.
- If you were on long-term sick leave and working less than 50 per cent when you married, you must have been married for at least 5 years, or have children together.
- If your survivor or spouse remarries before age 60, benefit payments cease.
In order for ITP 2 Family pension benefits to be paid to children, the following applies:
- The children must be under age 20. (Benefits are paid up to and including the month in which the child turns 20).
- ITP 2 Family pension benefits may also be paid to children older than 20 if they are unable to work, for example due to a disability, and receive sickness or activity compensation from the Social Insurance Office.