Swedish self-employed people should save at least 4.5-6 per cent of their salary to save for retirement, according to the Swedish Pensions Agency.

The agency has published an updated consumer guide for self-employed people as they often do not have an occupational pension and therefore risk a lower pension in retirement.

Swedish Pensions Agency analyst, Erik Ferm, said: “For most people, most of their pension comes from the general pension, but occupational pensions are also very important.”

The Swedish Pensions Agency's consumer guide for self-employed people describes who needs to save, what forms of saving are available and other ways of influencing income as a pensioner.

“Saving yourself for retirement is important for self-employed people, but whether it pays to save by making a deduction in the income tax return or not depends on the company form and income level,” Ferm said.

Those saving for retirement can get an idea of the size of their future pension at different retirement ages by logging on to pensionsmyndigheten.se.

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