During working life, many people yearn to, in their old age, be able to enjoy more time with loved ones, travel and other things that may be difficult to find time for when the working hours are long.
But even if you get more time when you retire, it can be difficult to get the finances together at the same time.
DON’T MISS: The pension will be increased in 2025 – the important detail: “Please note that…”
Photo: Pontus Lundahl/TT
DON’T MISS: Then you shouldn’t save for pensions: “Not that simple”
In January 2024, there were 2.3 million people who received a general pension from The Pensions Authority. This payment landed on average at SEK 15,600 per month before tax, according to figures from July this year.
For women, the average public pension was then SEK 14,500, while for men it was SEK 16,700.
General pension is the state pension, which is administered by the Swedish Pensions Authority. It consists of different parts:
Source: The Pensions Authority
In addition to the public pension, there are also many people who receive occupational pensions and who have private pension savings. But even here, there is a difference of thousands between men and women.
The average total pension before tax for residents in Sweden landed in 2023, according to preliminary figures, at SEK 22,700 per month. The average sum for women was SEK 19,400 and the corresponding figure for men was SEK 26,500.
READ MORE: SEK 3,600 higher pension – here are those who get more money
Larger pension gap between men and women in Sweden
But Swedish women are not only losers compared to men once they retire. A new report, carried out by Lina Stenberg at the Institute for Equality on behalf of The National Association of Pensioners (PRO), shows that the other Nordic countries are significantly more equal in this area.
While in Sweden there is a 28 percent difference between men’s and women’s pensions, the difference is only five percent in Iceland and eight percent in Denmark. Joel Stadewho is an expert in pension issues at PRO, believes that the Swedish difference is too great.
– There are similar societies in the Nordic countries, in contrast to, for example, Germany, where there are still many who are housewives. This means that the differences are striking and we were quite shocked. We have known that there are big differences, but not that big, he tells TT.
READ MORE: Pension blow for Swedish women – worst in the Nordic region
Photo: Johan Nilsson/TTDan Adolphson Björck: “It’s going at a snail’s pace”
When News24 contacts Dan Adolphson Björckpension economist at minPension, he states that “equality is usually defined as women and men having the same opportunities, rights and obligations in all areas of life”.
– Nice words that have proven difficult to fill with content. The differences between the sexes are decreasing, but it is going at a snail’s pace, he states and continues further:
– Women still have lower wages, work more often part-time, take longer parental leave and care for sick children to a greater extent than men. Many women in LO professions find it particularly difficult to combine work and family. This affects both the salary today and the future opportunities on the labor market. And that becomes clear the day you retire.
DON’T MISS: Then you can get rid of your pension: “If you…”
Dan Adolphson Björck. Photo: Pressbild/minPension Discuss the pension with your partner
According to Dan Adolphson Björck, there is a political responsibility for why it looks the way it does.
– Structures and attitudes affect us, he says, but adds at the same time:
– But for those who live in a couple relationship, it is also about having the discussion with their life partner. The women will never catch up with the men if we don’t dare to talk about finances and how we lay out our lives.
Photo: Henrik Montgomery/TT
READ MORE: Hidden trap that can make the pension lower: “Big risks”
Adolphson Björck explains that there is a certain redistribution in the pension system, which should correct the differences between women and men.
– Both the general pension and the occupational pension are calculated with a common life expectancy for women and men, even though women are expected to live longer. The vast majority of collectively agreed occupational pensions compensate for parental leave and it is also built into the general pension. Guarantee pension and housing allowance cover more women than men, he says.
– But the pension system as such cannot correct the problem with women’s position on the labor market and lower wage levels, that is, the very reasons why men’s and women’s pensions differ. Equal pensions are mainly achieved through an equal professional and family life, not by compensating afterwards through the pension system.
If you live in a couple relationship, there are several things that, according to Dan Adolphson Björck, you should think about:
1. Work to ensure that both have a good professional life
During your working life, you should, as far as possible, apply for jobs that offer full-time employment with a collective agreement that provides an occupational pension. There are also many smaller private employers without collective agreements who also have occupational pensions for their employees. Long periods of part-time work negatively affect the pension.
2. Share parental leave and VAB
The VAB days themselves may not make much of a difference today, but can affect the future salary development.
3. Compare your pensions
Go to minpension.se together to see if there are big differences between you.
4. Compensate the person who earns less
The person with a higher income can, for example, repay more on the mortgage. Those who are married or registered partners can compensate their spouse by transferring their premium pension right via the Pensions Authority. You can also save for your partner privately in his name through, for example, an investment savings account. In the latter case, you should think about writing a prenuptial agreement.
“There is no expension”
One must also take care to rely on a partner’s pension if the relationship were to end.
– Anyone who thinks they can live comfortably on their ex-partner will be disappointed because there is no pension. Private pension is normally included in the division of property. But the large parts, general pension and occupational pension, are not divided in the event of a divorce. It is therefore necessary to save for your own pension. Whether you are single or live with someone, says Dan Adolphson Björck to Nyheter24.
READ MORE: News today – current news from Sweden and the world
DON’T MISS: Latest news – take part in what’s happening right now