Sweden

Benefit Provider

State & Compulsory Benefits

Retirement benefits are provided through social insurance and are administered by the Swedish Pensions Agency.

Employers are required to provide supplementary retirement benefits where prescribed under a collective agreement; see Typical Employer Practice for detail.

Typical Employer Practice

Almost all multinational and local leading employers provide supplementary retirement benefits; benefits are provided through the following occupational pension plans, as mandated under collective agreements between trade unions and the employers' federation (covering around 90% of the workforce):

• ITP 1 (industrins och handelns tillaggspension - supplementary pension for salaried employees in industry and commerce)
• ITP 2 - administered by Alecta Insurance Company, although overall administration is provided by Collectum
• ITPK (ITP (kompletterande) - occupational supplementary pension to ITP)
• SAF-LO Collective Pension (Confederation of Swedish Enterprise (Svenskt Näringsliv - SN formerly SAF) and Swedish Trade Union Confederation (Svenska Arbetsgivareforeningen-Landsorganisationen - LO) Collective Pension)

For employees not covered by a collective agreement, the employer may provide supplementary retirement benefits using a similar structure to the collectively agreed plans with employer contributions ranging from 4% to 10% of total pensionable salaries up to 7.5 price base amount and from 10% to 20% of total pensionable salaries up to 30 price base amount (plans are on a defined contribution (DC) basis).

The report contains more information on retirement benefits in Poland including Benefit Provider; Type of Plan; Eligibility; Retirement Age; Pensionable Salary; Vesting and more

Benefit provider

State & Compulsory Benefits

There are no termination indemnities as such in Sweden; notice of termination is, however, required upon termination of an employment contract, depending on the length of employee's service in years. Employers are required to provide supplementary termination indemnities where prescribed under a collective agreement; see Typical Employer Practice for detail.

Typical Employer Practice

Almost all multinational and local leading employers provide supplementary termination indemnities; supplementary termination indemnities are provided through career readjustment insurance or the career readjustment agreement, as mandated under collective agreements between trade unions and the employers' federation (covering around 90% of the workforce).

Employer contributions covering career readjustment insurance are equal to the following ...

More information on Eligibility; When Benefit is Paid; Benefit details and the associated Taxation applicable to termination indemnities is available in the report