A new report from The Pensions Authority shows that the new tax rules for 2024 will have a big impact on your pension, depending on when you choose to stop working.
─ When planning to withdraw your pension, make sure you know how the timing of when you stop working affects what you get in pension. Tax on salary for an individual is less than tax on pension so you can profit from working longer, says Stefan Granbomanalyst at the Swedish Pensions Agency in a press release and continues:
– If you work longer, you also earn more for your pension. This also applies if you choose to both draw a pension and continue working.
This is what the pension will look like in 2024: They will receive SEK 1,500 more per month
Work four years longer and increase your pension substantially
This means that those who choose to work until the age of 67 instead of 63 can receive SEK 1,800 more in pension per month.
This is how the Swedish Pensions Agency writes in its example:
Two people who both have a pension of SEK 216,000 per year at the time of withdrawal. One of them is 63 years old at the time of withdrawal, the other is 67 years old at the time of withdrawal. The difference in net pension between the two pensioners will then be approximately SEK 1,870 per month. The reason is the increased basic deduction for the older pensioner.
Here you can read more news about pensions:
Pension payment 2024: Here are the dates when the money will arrive
The guarantee pension will be increased in 2024 – here is everything you need to know
Here is the supplement that can give you SEK 7,290 more per month