Sweden’s Employers and Unions Reach New Agreement Expanding Occupational Pension Coverage

Swedish occupational pension agreement expanded coverage: Svenskt Näringsliv, LO and PTK have agreed on a new deal covering pensions, insurance and transition support for more than two million Swedes. The agreement raises the age for earning occupational pension to 67 and starts contributions a year earlier, at age 24.

Swedish occupational pension agreement expanded coverage, Digi Mart USA News (Sweden): Svenskt Näringsliv, LO and PTK have reached a new agreement on pension, insurance and transition support, according to a press release from the parties. The agreement covers more than two million Swedes.

LO and PTK succeeded in raising the age for earning occupational pension to 67, up from the previous 66. In addition, contributions are to begin one year earlier, at age 24.

“We have also secured many other improvements that provide greater security in case of illness or unemployment,” said Veli-Pekka Säikkälä, LO’s negotiating secretary, in the release.

The affiliated unions and their counterparts must now adopt the agreement. The process will be complete only once the relevant parties have signed it.

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