Since January 1, 2023, the statutory retirement age in Sweden has been raised from 65 to 66. And in 2026, he will return to 67, the level he had from 1914, when the public pension system was created, until 1976.
In reality, Swedes can choose the date on which they stop working, between the ages of 63 and 69, or even later, if their business manager agrees. Because many of them do not want to retire when they are entitled to it: in good health, many of them feel useful in a favorable work environment, with colleagues they appreciate. Faced with longer life expectancy, the government is also encouraging those over 66 to work longer, by offering them tax reductions and reducing social charges for their employers.
An incentive to work longer
As a result, in 2021, Sweden was the country with the highest effective retirement age in Europe at 64.9 years. People with difficult jobs, such as construction workers or nursing assistants, generally retire at age 65 or earlier. But those with less physical jobs, such as university professors and doctors, often choose to work longer hours.
This is the case of Anna-Maja Thorén, 77 years old. A doctor and gynecologist at Ryhov Hospital in Jönköping, southern Sweden, she worked until she was 74. « I was in high demand and still had a lot to offer my work and my patients, she says. By working so long, I received between 300 and 400 € per month in pension more than what I would have received if I had stopped at the age of 65. »
Increase dues
The two Swedish pensioners’ associations, PRO and SPF, argue that the current pension system is underfunded and that future pensioners cannot expect more than 40% of their last salary in the public pension system – that it is possible to complete with a private system. The organizations believe that it is necessary to increase pension contributions in order to make the level of pensions acceptable.
Before the parliamentary elections in September 2022, it was promised that all pensioners would receive an additional pension of €100 per month, which was implemented. However, too many retirees, especially women in blue-collar jobs, struggle to get by despite having a long working life.
