Pension

General information on salary exchange plans
A salary exchange plan means that you as an employee give up some of your salary today for extra provisions for your pension. It means that you invest part of your gross salary in an occupational pension scheme and pay income tax only when you start to receive payouts from your pension. The basic requirement for it to be beneficial to sacrifice some of your salary is that you earn more than 8.07 income base amounts (IBB)/year (SEK 550 380 or SEK 45 865/month for 2021).    Potential benefits of a salary exchange plan: Lower income tax on the sacrificed amount – Many people have a lower taxable income during their retirement, which may result in lower income tax on the sacrificed amount compared to a salary paid today. Extra allocations from the employer – When there is a salary exchange plan, the employer will have lower costs for your salary. Instead of employer’s contributions, a special payroll tax is payable. The difference varies but is normally approx.: 5-6%, a difference that can be given as an additional allocation to your savings. Example: An allocation of 6% means that a salary exchange of SEK 2,000 becomes SEK 2,120 in savings. A difference that can have a big impact over time when the amount grows with compound interest effects. (NB: Not all employers give this allocation, which is important to consider before any decision on salary exchange is made) A lower yield tax –  A salary exchange occurs in an occupational pension insurance which means significantly lower tax than an ISK (Investment Savings Account), endowment insurance or securities custody account. Example: In 2020, the flat-rate tax is for example 0.375% in an ISK and the yield tax for pension insurance is 0.075%, i.e.1/5 the size. Earmarked money – The money is dedicated to the pension as they can be withdrawn no earlier than from the age of 55 and for a minimum of 5 years (which for some people is an advantage while others see it as a limitation).    Potential disadvantages of a salary exchange plan: Possible impact on the national pension –  Salary exchange below 8.07 IBB has a negative impact on the general pension (and if even lower, also on sickness and parental benefits).  Earmarked money – In the event that it would be needed before retirement, the money is not available but locked until the age of 55 and can as a minimum be paid out for 5 years.   If your employer offers you a salary exchange plan, you can submit an application in Advinans’ Benefit Portal. In the application flow you can see the effect on your gross and net salary (based on a standard municipal tax rate of 30%). The application is signed with BankID and then your employer approves the application. Once you have signed and the employer has signed, an agreement on salary exchange is generated which is saved in the portal and can be printed.   Remember to register your desired salary exchange well in advance. If your employer approves your application for salary exchange no later than the last day of the month, it will become active from the following month.  If your employer offers you a gross salary exchange for the benefit of an extra provision for your pension, you apply for this via the menu “Pension” and the tab “Salary Exchange”. The pension forecast will help you decide the amount that is needed to reach your target pension. By following these simple steps you can make an application for salary exchange:   Enter the gross payroll exchange you want to make. The savings paid monthly for the occupational pension will then appear as well as the effect on your salary after tax. Select how your savings should be invested Confirm or change your financial profile Certify and sign the application. Once this is done, your employer will receive a message and can approve your salary exchange application.
Salary exchange plan through Nordnet Pension
A salary exchange plan with management through Nordnet Pension means that it is invested in an occupational pension with Nordnet Pension in a custody account with access to Nordnet Pension’s range of investment opportunities and is handled by logging in to Nordnet Pension. As the deposits are invested in a special pension specifically intended for your salary reduction plan, it could for example be used for a so-called partial pension solution.   The pension is taken out with repayment cover, the general beneficiary provision is primarily spouse, registered partner or cohabitant and secondarily children. The repayment cover and beneficiary provision can be changed by means of a form sent to Nordnet Pension. Payouts can be made no earlier than from 55 years of age and the shortest period is 5 years.  When it is time to start payouts, you should contact Nordnet Pension.   Remember to register your desired salary exchange well in advance. If your employer approves your application for salary exchange no later than the last day of the month, it will become active from the following month.
Salary exchange plan through Advinans
A salary exchange plan with management through Advinans means that the pension is invested in an occupational pension with Futur Pension with Advinans’ automatic management. You handle your pension while logged in to Advinans’ portal, should you wish to change investments and not use the model portfolio you can freely choose your own management from Advinans’ portfolio of investment funds. As the deposits are invested in a special pension specifically intended for your salary exchange plan, it could for example be used for a so-called partial pension solution.   The pension is taken out with repayment cover, the general beneficiary provision is primarily spouse, registered partner or cohabitant and secondarily children. The repayment cover and beneficiary provision can be changed by means of a form sent to Futur Pension.   Payouts can be made no earlier than from 55 years of age and the shortest period is 5 years. When it is time to start payouts, you should contact Futur Pension.   Remember to register your desired salary exchange well in advance. If your employer approves your application for salary exchange no later than the last day of the month, it will become active from the following month.  
Salary exchange plan through Collectum
A salary exchange plan with management through Collectum means that the pension is invested in the free choice in your ITP 1/ITPK. Registration, changes to the amount as well as termination of the salary exchange plan is done while you are logged in to Advinans’ portal. Investment and management of the premium takes place in the insurance company where you have chosen to invest the free portion in ITP 1 or the insurance company you have chosen for your ITPK.   Your extra deposits are subject to the same payout rules as your as your regular ITP 1/ITPK. The repayment cover and beneficiary provision are the same as for your regular ITP. To change your choices for insurance company or repayment cover, please log in to your pages at Collectum. Remember to register your desired salary exchange well in advance. If your employer approves your application for salary exchange no later than the last day of the month, it will become active from the following month.
Salary exchange through ITP 1
f you have ITP 1 through your employment and choose to salary exchange, you lose provisions for your regular ITP 1 pension. Provisions for ITP 1 are calculated on the so-called cash paid gross salary.   In order for you not to lose any pension on a salary exchange, the corresponding amount is added to your salary exchange. This means that the premium that you lose to your regular ITP 1 provision is added to the premium that your employer pays for your salary exchange.
Salary exchange plan through AKAP-KL/KAP-KL
A salary exchange plan with management through AKAP-KL/KAP-KL means that the pension is invested in a special occupational pension that you can choose to invest in the same portfolio as your regular occupational pension. If no choice is made, the pension is invested in a traditionally managed pension insurance with repayment cover with KPA Pensionsförsäkring AB. To make changes to your choice of insurance company or repayment cover, please log in to the selection centre that is responsible for your occupational pension: www.pensionsvalet.se alternatively www.valcentralen.se. Registration, changes to the amount as well as termination of the salary exchange plan is done while you are logged in to Advinans’ portal.   Remember to register your desired salary exchange well in advance. If your employer approves your application for salary exchange no later than the last day of the month, it will become active from the following month.
Salary exchange through PA 16
A salary exchange plan with management through PA 16 means that the pension is invested in the insurance company selected by you for your selectable portion within PA 16, changes to the amount as well as termination of the salary exchange plan is done while you are logged in to Advinans’ portal.    The repayment cover and beneficiary provision are the same as for your regular PA 16. To change your choices for insurance company or repayment cover, please log in to your pages at SPV. Remember to register your desired salary exchange well in advance. If your employer approves your application for salary exchange no later than the last day of the month, it will become active from the following month.
Should I or should I not choose repayment cover?
The short answer is yes if you have a family. Repayment cover is a type of surviving dependants’ benefit/surviving dependants’ pension that ensures that your family members receive your pension capital in the event of your death. Usually this is done through a monthly payout over a certain number of years. If you do not have repayment cover, your pension capital will not be paid to your family members but instead be distributed among other policyholders (so-called inheritance gain) that also lack repayment cover. The advantage of not having cover is precisely that you get so-called inheritance gains when other people in the insurance collective (without cover) die. Inheritance gains are given to people of the same age in the form of a percentage on the pension capital, usually they are therefore very negligible before you reach the age of 60-70.  The cost of having repayment cover is either very low or completely free of charge. This is due to the construction of the insurance and differs between various companies (for some insurance the cover is 101% of the pension capital which means that you as the policyholder must pay for the risk that the insurance company will have to pay the extra percentage). The cost is normally charged automatically and is therefore not something you as a policyholder need to think about.   Due to the low/non-existent cost, it is common that people with a family have repayment cover. It helps the family during the tough period when they have to restructure their finances, sometimes it can for example be crucial in order for them to be able to stay in their home. On the other hand, it is unnecessary to have repayment cover if there is no family that needs of your pension capital, then you can instead get inheritance gains. The circle of beneficiaries for pension insurance is governed by the law and is relatively narrow. Possible beneficiaries are: spouse/registered partner/cohabitant or former spouse/former registered partner or former cohabitant as well as children (including foster children) of the insured. If you have pension insurance with Advinans, changes concerning repayment cover and beneficiaries are made through a form sent to Futur Pension. Form: Futur Pension Occupational Pension Beneficiary Appointment Form: Futur Pension Occupational Pension Update Form (repayment cover and payout period) If you have your pension in Nordnet or Länsförsäkringar, changes for repayment cover and beneficiaries are made at the specific company, go to www.nordnet.se or www.lansforsakringar.se for more information. 
When will my pension via Advinans and Futur Pension be paid out?
When you approach 65 years of age or the age you have previously determined would be your retirement age, Futur Pension will contact you to establish the details of the pension payments. If you wish to retire later or earlier than your pre-determined retirement age, please contact Futur Pension's customer service department. Remember to apply for pension payments well in advance, Futur Pension wants to receive the application at least three months before the first payment.  Form: Futur Pension Occupational Pension Payment  Futur Pension’s contact details: Telephone number for customer service: 08 504 225 00 Email: kundservice@futurpension.se
Nordnet as pension manager
If your employer offers you the opportunity, you can choose to invest your pension with Nordnet.   • Select Nordnet as a manager for your occupational pension by logging in to Advinans • Click on "Overview" and then on "Occupational pension" • When selecting "Management", you can select Nordnet as an alternative   Please note that Nordnet will be valid from the month after you sign up. All holdings so far registered with Advinans and Futur Pension will not be transferred to Nordnet automatically. If you wish to transfer all your holdings from Advinans and Futur Pension to Nordnet, please contact Advinans' customer support.