A portion of your salary is automatically put into a safe savings account. You can decide where you would prefer the rest of your premiums to be invested and how they should be managed (see below). 

If you don't make a decision, you will have chosen a so-called non-selection option, by default, and the premiums will also go into in a safe savings account.

You can choose what to do with your future premiums, at any time, or move the premiums you have already paid.

• Futur Pension
• Nordea Liv & Pension
• Nordnet pensionsförsäkring AB
• SEB Pension och Försäkring AB
• Swedbank Försäkring AB
• SPP Pension & Försäkring AB
• Handelsbanken Liv Försäkringsaktiebolag

According to the BTP plan, normal retirement age is from the month you turn 65. If you want to continue working (up to the age of 69), you must notify your employer at least three months before the month you turn 65. You can choose to start payments från BTP at the age of 55 as the earliest.  

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 paid out over a smaller number of years. Your state pension will also increase.

The premiums kept in safe savings will be paid out evenly for the rest of your life. If you take a part-time pension, you will receive an amount corresponding with your reduced working hours. To some extent, you can choose how the optional part of your pension is paid out, although the payments must be spread over at least five years.

• When you change jobs - ask your new employer about the pension provisions they make. If you begin working in another industry, you must also change your pension agreement.
• If you become a parent – you may want to take out family protection insurance or add your child to your existing insurance policy?
• When your salary changes – make sure your employer reports the correct salary to your pension scheme.
• If you change your working hours – as pensions are calculated according your salary, increasing or decreasing your working hours will affect your pension.
• If your get married or change partner – you may want to take out family protection insurance or change an existing policy.
• If you become seriously ill – you may want to review insurance cover for your partner or dependents.

We have negotiated a pension exchange with BAO, the Swedish banking employers’ association, for all our members who work for BAO-affiliated companies. The exchange scheme offers these members enhanced pensions with better provisions.

With enhanced pensions, employers make extra contributions of 2 percent, within the framework of the BTP (the Swedish banking industry pension fund). This is made possible by exchanging the current holiday pay supplement of 1.45 percent for a higher pension premium. The exchange, which is not optional, offers special benefits. Employees who were born in 1966 or earlier, within the BTP2 pension scheme, are not covered.

The premiums for BTP 1 with enhanced pensions

• 6,5 percent of your salary, up to 7.5 of the income base amount (76 200 SEK 2024).
• 32 percent of your salary between 7.5 and 30 of the income base amount (76 200 SEK 2024).