BTP 2 - benefit-defined pension

If you are covered by our agreement with BAO, the Swedish banking employers’ association, your pension consists of the two parts, BTP 1 and BTP 2.

BTP, or Bankernas Tjänstepension (the Swedish banking industry pension fund), is an occupational pension for employees in the banking and finance sector.

Your employer decides whether to make BTP1 contributions and from which date. If an employer chooses BTP1, it will apply to staff recruited after the employer opted into the scheme and all their employees under 25.

If you are over 25 and were recruited before your employer opted into the BTP1 scheme, BTP2 contributions will continue to be made, unless you and your employer have agreed on making BTP1 contributions.

A benefit-defined pension for those who were employed before 1 February 2013. This means that the pension is based on your salary at the time you retire. You also have a supplementary pension called BTP-K. The proportion of your pension this amounts to depends on, among other things, how much money has been deposited by the time you retire and how it has been invested.

Your employer pays 2 percent of your salary into your pension every month, from the time you turn 25 until you are 65. You can choose where the money is invested, although the options depend on which company you work for. If you do not make a choice, your BTP-K money is automatically placed in a safe savings account.

If you are employed by... ...your pension is managed by
Danske bank, SEB, Nordea PRI Pensionstjänst AB
Handelsbanken Pensionskassan, SHB
Swedbank, Sparbankerna Sparinstitutens Pensionskassa, SPK
Bankgirocentralen, Privatgirot SPP SPP Pension och Försäkring AB
DNB Skandikon

Your employer pays premiums into your pension for as long as you work, until you turn 65. If you retire at 65, you will receive a full pension, as long as you have worked for 360 months in the industry. If you make an agreement with your employer, you can retire before 65, although it will affect the pension you receive.

You have the right to continue working until the month you turn 69. By then, your occupational pension will have increased, as your employer will have continued to pay premiums, your contributions will have matured over a longer time and they will be paid out over a smaller number of years. Your state pension will also increase.

In BTP2, rule §8 allows people who were born before 1967 to take early retirement.

If you were born between 1957 and 1961, you can retire when you turn 62.

If you were born between 1961 and 1967, you can retire when you turn 63.

Collective agre­e­ments

Your secu­rity and your rights are most often the result of good union nego­ti­a­tions. Our collective agre­e­ments contri­bute to good working condi­tions in the finan­cial indu­stry and can improve your earnings by as much as SEK 80,000 per year.
Collective agre­e­ments
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