The average Swedish pension saver earned SEK 59,800 in general pension in the most recently declaring income year, 2021, according to figures from the Swedish Pensions Agency (SPA).

This represents an increase of 3 per cent compared to 2020, when the average saver earned SEK 57,900 for their public pension.

On average, Swedish pension savers have earned a total of SEK 1.36m for their public pension.

Each year, pension savers in Sweden receive an orange envelope from the SPA that contains information about their earned general pension, which includes their income and premium pension, and is based on their pension contributions to date.

Swedes’ pensions usually consist of three parts: The general pension, occupational pension and private pension savings.

“For the vast majority of people, it is possible to influence their pension,” said SPA pension expert, Monica Zettervall.

“You may be able to reduce the periods in your life when you work part-time, actively search for an employer that has an occupational pension or extend your working life by an extra year.”

The SPA noted that an extra year of working after the age of 66 can give someone on an average salary between SEK 1,600 and SEK 2,200 more in pension per month.

In an update, the SPA also revealed that the value development of the premium pension in 2022 was -12 per cent.

Meanwhile the fund fee, which is the average fee paid by pension savers within the premium pension system, was 0.13 per cent in 2022.

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