1

9,464,48618.45%(170)30.2%79.5 83.5

http://www.scb.se

1913(Basic pension)(Folk PensionFP)

519

1960(Allman TillagspensionATP)DB(Supplementary Pension)60%ATPFolk Pension(FP)30

90%65%

1.2.3.4.1991199961.2.3.4.1.2.3.4.1940 8(Guarantee pension)(Income pension) (Premium reserve pension)65(Minimum Pension)1016%()(Notional Defined ContributionNDC) 112.5%(fully funded)Premium Pension AuthorityPPM1280%~90%3.5%22%(18.5%3.5%)1.Occupational Pension Scheme for White-collar EmployeesITP2.Occupational Pension Scheme for WorkersSTP3.Occupational Pension Scheme for Local Government EmployeesKPA4.Occupational Pension Scheme for Central Government EmployeesSPV

,2010

Replacement Rate

PENSIONS AT A GLANCE 2011: RETIREMENT-INCOME SYSTEMS IN OECD COUNTRIESSources of Net Replacement Rate

PENSIONS AT A GLANCE 2011: RETIREMENT-INCOME SYSTEMS IN OECD COUNTRIESTaxEETExempt contributions, Exempt investment income and capital gains of the pension institution, Taxed benefitsETTExempt contributions, Taxed investment income and capital gains of the pension institution, Taxed benefits

Economic Globalisation and Swedish Pensionsthe contributions by both employer and employee are tax deductiblethe investment results of the pension fund are usually exemptthe benefits are taxed.

18 ,4 ,2009NDC , ,2010 , ,2010Economic Globalisation and Swedish Pensions ,Peter A. Diamond ,2009PENSIONS AT A GLANCE 2011: RETIREMENT-INCOME SYSTEMS IN OECD COUNTRIES ,OECD ,2011The Swedish Pension Reform Model: Framework and Issues , Edward Palmerhttp://www.scb.sehttp://nordsoc.is/en/Sweden/

IndicatorsPopulation : 5,579,204 (around 5.6 million)Population over age 65 : 26.8 % of working age populationLife expectancy :78.3 at birth 82.6 at age 65

Multi-pillar structurepublic pillar : social pension + ATPsecond pillar: occupational pension plans + three supplementary pension schemes (part of ATP & LD )third pillar: voluntary personal pension plans

public pillar - social pension Legislation for people over 65. unfunded and financed from general tax revenues (pay-as-you-go) Public pension spending : 5.6 % of GDP

Flat benefits+ Earnings-related benefits Flat benefits: universal pension residency test &proportionality rule fraction of the years against 40 40 years : full public old-age pension Earnings-related benefits: employment earnings test will be reduced by 30% if work income average wage + a supplement (income test is qualified , where income including ATP and occupational pensions) 23DKK 61 152 per year= 17% of average earnings

nationals:3 years (all together) non-nationals: 10 years including 5years immediately before pension

The full pension supplement is DKK 5 130 per month or DKK 61 560 per year for single personsand DKK 28 752 per year for couples. The actual amounts are tested against all sources of personalincome (including ATP and occupational pensions) apart from public pension. If household personalincome exceeds DKK 57 300, the targeted pension supplement is reduced by 30% of the excessincome for single persons. The couples household income test is calculated for income above DKK115 000 at a rate of 15%public pillar - ATPLabor Market Supplementary Pension (ATP)is fully funded and (a DC plan) contributions are split, with two-thirds paid by employer and one-third by employee (or the government for unemployed workers)Less than 0.9 percent of the average wage (adjusted from time to time.) it was established by law and entails social security features

24ATP conti.The contribution is a fixed amount as opposed to a percentage of income varied only against the number of hours worked (have no income redistribution)

second pillar: occupational pension quasi-mandatory and nearly universalBecause social pension scheme and ATP pay modest benefits,effectively imposed by collective labor agreementsis not enacted a mandatory occupational pension pillar, but coverage is extensive and reaches almost 80 percent of the wage earnersmanaged by (1)life insurance companies, (2)multiemployer pension funds and (3)corporate pension funds & (4)banks on a small scale 26Taft Hartley Funds :One or more employers contribute to the fund.The fund is collectively bargained with each participating employer.The fund and its assets are managed by a joint board of trustees equally representative of management and labor.Assets are placed in a trust fund, legally distinct from the union and the employers, for the sole, and exclusive benefit of the employees and their families.*Mobile employees can change employers without losing coverage provided the new job is with an employer who participates in the same Taft-Hartley fund.

second pillar:majority DC plan On average, the contribution rate amounts to 15% of income with the employer contributing 2/3 of that rate

source from : The World Bank Group & http://www.pensionfundsonline.co.uk

27(an exception: one of pension schemes for certain civil servants )

second pillar: three supplementary pension schemesAll are DC planstwo of them are managed by ATP (SP & SUPP) the last is managed by LD Pensions (Employees Capital Fund) since 1980 aimed at adjusting cost of living increase lump sum 28LD Pensions is one of Denmark's largest pension funds with more than US$10 billion under management. LD Pensions has a long-term and highly selective investment strategy third pillar : voluntary personal pension planssources from : http://www.socialprotection.eu/files_db/889/asisp_ANR10_Denmark.pdf

Replacement Ratios Less educated Skilled Highly educatedThe blue part is public pension and the pink part is private pension.Source: Ministry of Economic and Business Affairs (2003).

http://issuu.com/world.bank.publications/docs/9780821385739 (Annuities and Other Retirement Products published by world bank)http://www.oecd.org/document/46/0,3746,en_2649_34853_36091822_1_1_1_1,00.htmlPension Reforms in Denmark Peter Abrahamson & Cecilie Wehner Department of Sociology University of Copenhagen November 2003Pension Institutions and Annuities in Denmark