The new tax rules introduced on 1 January 2024 make it profitable to continue working after the age of 65.
This is partly because the employment tax deduction has been increased to apply from January of the year you turn 67, compared to 66 as it was before. Secondly, the higher basic deduction means lower tax on both salary and pension.
This is what the pension will look like in 2024: They will receive SEK 1,500 more per month
Work longer and increase your pension
So what does that mean in practice?
A person who has a monthly salary of SEK 35,500, and receives SEK 22,500 in pension, gets a big bang in the coffers from working longer.
If that person chooses to work until the age of 69, instead of 66, they will then receive SEK 4,900 more in pension every month for the rest of their lives, according to statistics from the Pensions Agency.
Here you can read more news about pensions:
Pension payment 2024: Here are the dates when the money will arrive
Here is the supplement that can give you SEK 7,290 more per month
Here you can read about how the new tax rules affect your pension if you stop working when you are 67.