ITP 1 and ITP 2

For those of you included in collectively agreed upon pension plans
in the private sector, you have either ITP 1 or ITP 2. You can find out
about the type of occupational pension plan at the bottom of this page.

ITP 1

Employees born in 1979 and later.

Defined contribution old age

That the pension is a defined contribution old age pension implies that the premium, but not the pension amount, is determined in advance.

You choose, yourself, the manager and form of savings as regards the entire amount.

How much money is paid in as premiums?

  • The premium is 4.5 percent of your monthly salary up to SEK 38,438.
  • Do you earn more than this amount?  For the salary amount in excess of SEK 38,438, the premium is calculated at 30% of the amount.

How much will I receive in pension benefits?

This cannot be determined in advance. The amount of your pension is dependent on your salary, how long you will have ITP 1 and the interest on the funds, that is, how you have chosen to invest your funds.

The cover includes

  • Disability pension benefits
  • Occupational group life insurance (TGL)

Cover can be added

  • Repayment cover
  • Family cover

ITP 2

Employees born in 1978 and earlier
(certain companies have ITP 1 for all personnel, regardless of their age)

Defined benefit old age pension

That the pension is a defined benefit old age pension implies that the pension amount, but not the premium, is determined in advance. The pension is divided into two parts:

A. Your defined benefit portion is managed by Alecta. This is called ITP 2.
B. You can invest your defined contribution portion. This is referred to as ITPK.

How much money is paid in as premiums?

A. The amount of the premium is calculated on the basis of your age, salary, calculated period of employment and the occupational pension benefits you have earned in previous employment.
A. ITPK comprises 2 percent of your salary. You can invest this portion yourself.

How much will I receive in pension benefits?

A. If you work an entire working life, from 28 to 65, your ITP old age pension is as follows:

Annual salary Pension in % of salary portion
Up to SEK 461,250 10 %
SEK 461,250 - SEK 1,230,000 65 %
SEK 1,230,000 - SEK 1,845,000 32.5%

B. The amount of your ITPK is dependent on your salary, how long you have had ITPK and how you have chosen to invest the premiums.

The cover includes 

  • Disability pension benefits
  • Occupational group life insurance (TGL)
  • Family pension (included if you earn more than SEK 37,807 per month)

Cover can be added

  • Repayment cover
  • Family cover