ITP, ITPK and TGL

Your ITP occupational pension gives you, as a salaried employee in the private sector, extra security on the day you retire. But right now you can still benefit from it if you should become ill for a long period. 

From 18 to 65

Between the age of 18 and 65 you have an ITP disability pension which complements the compensation you receive from the Social Insurance Office. You should also have TGL occupational group life insurance as long as you are working.

If you leave your employment before you are 65, both disability pension and TGL cease to apply. 

Retirement pension

You also have an ITP retirement pension. If you earn more than SEK 31,414 per month you also have family pension for survivors. 

In addition you have ITPK, which is a complementary retirement pension. You can decide how the ITPK premiums should be invested.

Retirement pension, ITPK and family pension can be compared with savings in a bank. If you leave your employment, your employer stops paying the premiums. The retirement pension and ITPK that you have earned are paid when you retire. 

Minimum eight hours a week

You must work at least eight hours a week in order to have ITP, ITPK and TGL. 

TGL

You also have an occupational group life insurance (TGL), which provides compensation to your immediate family if you die before you retire. Do you have a cohabitant? If so, you must complete a special beneficiary provision so that he or she will receive TGL in the event of your death.

The ITP Agreement

ITP occupational pension is designed on the basis of the ITP Agreement between PTK and the Confederation of Swedish Enterprise. A new ITP Agreement containing a number of changes has applied since 1 July 2007. Among other things, ITP is divided into two divisions:

• ITP 1 for people born in or after 1979 
• ITP 2 for people born in or before 1978