Almost half (44 per cent) of Swedish occupational pension savers are unaware of how much their employer contributes to their pension, according to new research by AMF.

Among privately employed workers (SAF-LO), this figure is roughly the same (45 per cent). However, the figure rises to 57 per cent for municipal and regional employees (AKAP-KR/KAP-KL).

For white-collar workers (ITP), the figure is just over three in 10 (32 per cent), and for government employees (PA16/03), just under four in 10 (36 per cent).

AMF’s survey also found a lack of knowledge about the amount of money people have saved in their pension. For example, 34 per cent do not know how much they have saved so far in their occupational pension.

Again, the figures vary between the agreement areas, but among privately employed workers and government employees, the figure is 32 per cent, compared to 40 per cent for municipal and regional employees, and 24 per cent among white-collar workers.

However, AMF found that those approaching retirement age are the most knowledgeable. In the 55-65 age group, 70 per cent said they have a clear picture of their future pension, but there are also significant differences between the various agreement areas.

Despite poor awareness, 50 per cent of respondents feel that their occupational pension provides what they expected, and 20 per cent are also pleasantly surprised when they see how much money they have saved.

The most positive are those who have been employed by the state, where almost two in five feel that they receive more or much more in pension than they expected (36 per cent).

“Many members of the SAF-LO collective have had lower incomes throughout their working lives, which affects their pensions. However, the fact that pensions meet expectations for most people, and exceed them for many, also shows that occupational pensions do make a difference,” AMF stated.

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