Early retirement.

For most of our insurances, you can start receiving your pension as early as 55 years old. You can check your insurance terms to see what applies to you.

When do I need to make my notification at the latest?

We need to receive your notification by the 15th of the month before the month you want the payout to start.

How do I retire early?

If you are a customer with us at SPP, you will find a link in the menu on your pages to initiate your payout earlier. If there is no link or if you have any questions, feel free to contact us, and we will assist you. You can initiate your payout earliest one month after turning 55 years old.

How are the monthly amounts affected?

If you have a traditional insurance and retire earlier than the agreed retirement age, it means that your guaranteed monthly amount will be lower.

If you have an unit-linked insurance, the monthly amount depends on how the funds in your insurance have performed and the length of your payout period.

Keep in mind that if you choose to receive your pension over a longer period, you will receive a lower monthly amount.

Can I continue working a bit?

There may be different conditions for how you can work after starting your payout. It may not be possible to continue contributing money to the same pension insurance from which you started receiving payments.

It may also be the case that you are not allowed to receive sickness benefits or activity/sickness compensation from the Swedish Social Insurance Agency (Försäkringskassan) simultaneously. Since the rules vary, you need to refer to your insurance terms.

What happens if contributions are still being made?

If contributions to your occupational pension are still ongoing, you need to contact your employer, who will deregister the insurance before we can start the payout. Alternatively, you can choose to receive another occupational pension.

 

Can I change my mind and stop the payout?

No, it's not possible. Once the payout has started, the insurance amount will be paid out for the entire payout period

What taxes do I need to pay?

Generally, we withhold 30 percent in tax. However, if you receive the majority of your income from us, we will withhold according to a tax table, which may result in a higher tax deduction than 30 percent.

From the year you turn 66, the tax changes. You can find more information on taxation of pension payments at the Swedish Tax Agency (Skatteverket).