🇸🇪 Sweden - Occupational Pension, Team Member Overview


Occupational pension, “tjänstepension,” is a supplementary pension scheme in addition to the statutory pension, “allmän pension.” The occupational pension is offered as a standard benefit in most Swedish companies and Oyster provides this benefit.

Benefit provider

Skandia, one of the largest pension providers in Sweden, manages the pension plan.


What type of occupational pension is it?

The occupational pension is not a collective agreement, but we offer a pension plan that looks like a collective agreement ITP1. Only the pension element is set up, there are no additional insurances alongside the pension.

Is it an ITP1?

No it is not but it is a plan that looks like an ITP1.

What is the occupational pension fund?

Pension contribution depends on your gross salary. The contribution is set at 4.5% of the monthly gross salary up to a cap of SEK 47,625. In case the salary exceeds this cap, 30% will be applied to the amount exceeding the cap.*

Please note that the maximum amount you can receive in your pension for the year is SEK 573,000 (SEK 47,750/month). If your pension contribution in a month after the calculations, will be above SEK 47,750, the amount that exceeds the threshold will not be paid into your pension.

The pension is purely an employer cost, you will not need to make any contributions to this fund.

How can I be enrollment into the occupational pension?

We will reach out to you after we receive a confirmation from your company about providing you with this benefit. Skandia, our pension provider, will reach out to you with information about your pension account and how to access it after your pension registration process is complete.

Can we choose a custom rate for pension contributions?

No. Due to the equal treatment principle, the contributions are fixed to a % of the gross salary of the team member. The percentages were chosen based on the most common solutions for occupational pension.

How do I select my management form and survivor protection?

Please follow this link to the Skandia website to select your form of management and survivor protection. If you do not make a selection, by default you will be placed in the Skandia Life Traditional Management setup.

How can I select what funds to invest my pension in?

For more questions on your pension, please reach out to the Skandia customer service.

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