Pension contributions in Swedish occupational pension schemes totalled SEK 594.6bn in 2022, the Swedish Pensions Agency (SPA) has revealed.

During the year, approximately SEK 307bn was paid by members into income pensions, equating to an average of SEK 51,500 per person across 5.96 million accounts.

Employers paid around SEK 240bn in occupational pension premiums, while earned premium pension rights, which are deposited into pension savers’ accounts this month, were SEK 47.6bn in 2022.

Contribution levels increased overall, with a total of SEK 567.4bn paid into occupational pensions in 2021.

Compared to last year, income pension contributions increased from SEK 294bn, employer contributions rose from SEK 228bn, and premium pension deposits increased from SEK 45.4bn.

“Ordinary wage earners gave up around 22 per cent of their salary last year in order to receive the money in the future in the form of a pension instead,” commented SPA head of analysis, Ole Settergren.

Of the total pension contribution, 18.5 percentage points goes to the general pension and 2.5 percentage points goes to the premium pension.

“Anyone who has previously made a fund selection can take the opportunity to review their selection,” said SPA trading fund unit head, Rasmus Bjälkeson.

“If you have not made a choice, the money is invested in AP7 Såfa, a portfolio specially adapted for premium pension savings and with a risk level that takes your age into account.”

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