Work for as many years as possible and make sure you are covered by an occupational pension. This is the most important thing you can do to influence your future pension.
Starting to think about your own private pension savings when you are in your 20s is not necessary, according to the Swedish Pensions Agency.
For the vast majority, the public pension and occupational pension make up the largest parts of the pension; personal savings make up only a small part, says Monica Zettervall at the agency.
Unnecessary stress
The Swedish Pensions Agency is responding to messages from banks, among others, about the importance of starting to think about retirement early. This gives a distorted picture of reality.
"It is unnecessary to scare young people and say that they have to save on their own when the pension system has actually been strengthened, especially when it comes to occupational pensions. We have not yet seen the effects of that," says Zettervall.
The public pension, which is the responsibility of the Swedish Pensions Agency, includes, for example, the income pension and the premium pension. The vast majority also receive an occupational pension through their employer.
Saving privately can be important, perhaps especially if you are self-employed. But the need for your own savings is ultimately determined by what expenses you expect to incur as a retiree, which is not always easy to know in advance.
Save for other things
The Swedish Pensions Agency points out that Sweden has a robust and strong pension system and that it needs to look at the whole picture, not just the public pension.
This risks giving a misleading picture of the pension system and can lead to the perception that you need to supplement your own savings for your pension early on, says Monica Zettervall.
According to the Swedish Pensions Agency, young people should prioritize other forms of savings first.
It is more important to save for housing or a financial buffer at that age, says Monica Zettervall.
