Occupational Pension Day
How to get more out of your pension money
When an employer offers an occupational pension, it often shows that they are committed to providing good conditions for their employees. If your employer has also purchased the Lifeplan service, you as an employee can get advice on how to invest your entire pension, including your occupational pension.
Lifeplan assesses your situation and gives you specific advice on how to best invest your money based on your individual circumstances.
Watch the short film to find out more 
Frequently asked questions about occupational pensions
What is an occupational pension and how does it work?
An occupational pension is the pension your employer pays in addition to the public pension, either as part of your collective agreement or because employers without a collective agreement have set up their own occupational pension plan. The money is invested with one or more insurance companies and is invested to grow until you retire. You often have the opportunity to influence how part or all of the capital is invested.What is the difference between an occupational pension and a public pension?
The public pension is the basic pension paid to everyone who works and pays tax. An occupational pension is paid by your employer. If you have a collective agreement, you always have an occupational pension, but many workplaces without a collective agreement have also signed up for a voluntary occupational pension solution for their staff.How much does my employer pay into my occupational pension?
Usually between 4–6% of your salary, but this varies depending on your pension agreement and income level.Can I influence my occupational pension myself?
Yes, you can usually choose between different types of insurance, usually traditional insurance where the insurance company manages the fund, or fund insurance where you choose the funds yourself. Depending on your agreement, you can often choose the insurance company, but sometimes the occupational pension is set up with a specific company or a specific type of insurance. Contact your employer if you want to find out which pension agreement you are covered by.What happens to my occupational pension if I change jobs?
The money that has already been paid in remains and stays in the investment you have chosen unless you decide to move or change the investment. With a new employer, you may get a new agreement, and it is normal to have a number of different occupational pension insurance policies with different insurance companies during your working life.When can I withdraw my occupational pension?
Occupational pensions can be withdrawn from the age of 55 at the earliest and are often paid out automatically at 65 unless otherwise agreed with your insurance company. Many insurance companies will contact you before payments begin so that you can decide when the capital should start to be paid out and over how many years the payments should be made.How much occupational pension will I receive per month when I stop working?
It depends on your salary, how long you have worked, contributions, returns, and withdrawal period. You can get a forecast of your entire pension via Lifeplan.- What happens to my occupational pension if I become ill or pass away?
Occupational pensions often include premium exemption insurance that takes over payments from the employer in the event of prolonged illness. Most occupational pensions offer the option of choosing different types of survivor protection. The most common is repayment protection, which means that your survivors will receive your accumulated pension capital. The choice of survivor protection is usually based on needs, personal preferences, and family situation. - Can I transfer my occupational pension?
In many cases, yes – but it depends on the pension agreement and whether the insurance is transferable. Insurance policies taken out after 2007 always have transfer rights, but this is not necessarily the case for older insurance policies. In some cases, a transfer fee is also charged when transferring the insurance itself. - What fees do I pay on my occupational pension?
The fees charged vary, but can be simplified into insurance fees for the insurance itself and fees for the funds if you have chosen fund insurance. Insurance fees can be fixed annual amounts or percentage fees. Collective agreement insurance policies often have low or no fees for the insurance itself. Fund fees are normally charged as a percentage of the invested capital per year. Fund fees can vary greatly and can have a significant impact on the long-term development of your capital. - What is the difference between different pension agreements (ITP, SAF-LO, PA16, etc.)?
They regulate how much the employer pays in, what choices you can make, and what conditions apply to your particular occupational group or sector. The agreements have been negotiated by the social partners, and the conditions may vary because different groups may have different needs and circumstances. You can find more information about your specific agreement at your choice center or by contacting your employer. - Do I really need to think about pension capital at my age?
Depending on your age, retirement may feel both distant and so close that it is easy to think it is too late to influence it. The earlier you start taking care of your retirement, the greater the opportunity you have to influence it, but even those who are close to retirement will hopefully live for another 20-25 years as pensioners. This means that even choices made close to retirement can have a significant impact over time.
