Pension and economy
As an employer with a collective agreement, you pay premiums to the employees’ occupational pensions on a monthly basis. Premiums are there to ensure financial security in various situations.
With the ITP premium, your employees receive a larger pension, insurance which provides compensation in the event of illness and money to their surviving family members in the event of death. Well invested money, in other words.
Premiums for ITP 1
The premiums you pay for the occupational pension ITP 1 are calculated as a certain percentage of the employee’s salary.
The monthly gross salary paid out in cash is used in the calculation. The applicable salary is reported to Collectum each month.
You pay three different premiums for ITP 1; one for retirement pension, one for disability pension and one for waiver of premium.
Overview of premiums for ITP 1
| ITP 1 | Premium on salaries up to 7.5 income base amounts | Premium on salaries over 7.5 income base amounts |
|---|---|---|
| Retirement pension | 4.5 per cent | 2022: 30 per cent 2023: 30 per cent** |
| Disability pension | 2023: 0.03 per cent* 2024: 0.028 per cent* |
2023: 0.117 per cent** 2024: 0.101 per cent** |
| Waiver of premium | 2023: 0.14 per cent 2024: 0.17 per cent |
2023: 1.236 per cent** 2024: 1.09 per cent** |
*For disability pension, 10 price base amounts apply.
**On salaries up to 30 income base amounts.
Premium for Occupational group life insurance
Premium for TGL in Alecta – SEK 31 / month
Supplementary premiums
Waiver of premium insurance for supplementary premiums is concluded with Alecta and costs 2.22 percent of the monthly premium which is to be waived.
Premium for family cover in ITP 1 – read more at Collectum.
Premiums for ITP 2
The total premium you pay for your employees’ occupational pensions in ITP 2 is comprised of several different, smaller premiums.
You pay various premiums for:
- Retirement pension
- ITPK
- Disability pension
- Waiver of premium insurance
- Equalisation premium.
For employees with salaries over 7.5 income base amounts, you also pay a premium for ITP family pension.
All premiums are determined on the basis of the employee’s annual salary. You provide information regarding annual salaries to Collectum.
Overview of premiums for ITP 2
| ITP 2 | Up to 7.5 income base amounts | Between 7.5 and 30 income base amounts |
|---|---|---|
| ITPK premium | 2 per cent | 2 per cent |
| Disability pension | 2023: 0.03 per cent* 2024: 0.028 per cent* |
2023: 0.117 per cent 2024: 0.101 per cent |
| Waiver of premium**** | 2023: 0.22 per cent** 2024: 0.145 per cent** |
2023: 1.816 per cent** 2024: 1.48 per cent** |
| Equalisation premium*** | 2023: 0.20 percent 2024: 0.20 percent |
2023: 0,20 percent 2024: 0.20 percent |
| Retirement pension | individual | individual |
| Family pension | - | individual |
*Here applies 10 price base amounts.
**The premium for the final payment of ITP 2 is also included.
***Finances the maximum premium in ITP 2.
****For the Alternative pension solution, the premium for salary above 7,5 income base amounts is 0,054 percent for 2023 and 0,5 percent for 2024.
Index-linked pensions – our ambition
Our ambition is also to index-link the pensions through pension supplements. Pension supplements are an annual indexation of the retirement pension in ITP 2. Thus, the retirees receive compensation for increased prices. Since the agreement on ITP 2 was concluded, Alecta has been able to fulfil its ambition to index-link pensions.
Premium maximisation in ITP 2
In the defined benefit ITP 2, there is a limit to how high the employer’s premium for the retirement pension may be, a maximum premium.
The limit to how high the employer’s premium for the retirement pension may be
| Maximum premium for 2024 | |
|---|---|
| Pensionable annual salary under 7.5 income base amounts. | 6 percent |
| Pensionable annual salary between 7.5 and 30 income base amounts. | 55.8 percent |
In the case of an agreed retirement age prior to the age of 65, higher percentages apply.
The part of the premium which exceeds the maximum limit is financed through a collective equalisation premium paid by all employers.