Transfer easy overseas pension to Sweden

Earned pension when you lived abroad?

Many people choose to live and work abroad at some point in their lives, not least in the EU. And when the time comes to move back to Sweden, people of course wish to bring with them any occupational pension they have earned.

Overseas pension is a challenging area, with complex pension structures and detailed legal documents. At Nordea Life & Pension we have a team of specialists on pension in foreign countries.

We can transfer pension capital from:

EU authority
UK
Ireland
Luxembourg
Netherlands
Jersey
Malta
Belgium
Norway (if you have lived there for less than 3 years).

We provide assistance and handle much of the process of transferring pension back to Sweden. We have ongoing contact with the foreign pension companies and responsible authorities of the country where you earned your pension.

Benefits of transferring pension back to Sweden

Keep an eye on your pension
Keeping an eye on your pension savings can be challenging, particularly if you have pension savings in a lot of different countries or with many different pension companies. Gathering your pension with us enables you to better keep an eye on your pension.

Avoid complexities when it’s time to retire
If you intend to draw pension that has been saved in another country, you need to be familiar with aspects such as retirement age, which can vary between different countries. Some EU countries have a higher retirement age then others. If you draw one part of your pension earlier than another, this could affect the amount. You should also find out how to access your pension at least six months before your intended retirement, as administration for an application that concerns several countries can take a long time.

Have a say in how your pension is invested
Transferring your pension to Sweden can give completely different possibilities of having a say in how your pension money is invested. Sweden has come quite far in terms of sustainability in capital investment. Nordea has one of Sweden’s broadest ranges of sustainable funds.

How to transfer your pension earned overseas

If you would like help with transferring your pension, we need some information to start with.

Fill out the form that is on the Swedish page or send an e-mail to Öppnas i nytt fönster with the following information, and we will contact you:

Name and personal identity number
Contact information
How much money (in SEK) is to be transferred, and from which country

How to transfer your foreign pension to Sweden

Fill out the form
Provide us with information about your foreign occupational pension so we can do a first check if it can be transferred to Sweden.
Contact
If your pension can be transferred, we first have a meeting with you so you know what you need to think about. Then you need to order the necessary documents from the foreign pension company. Once we have received them, we can help you further in the process.
Advice
In an advisory meeting, we go through a pension plan and all documents together with you to be able to complete the transfer.
Transfer
If you are satisfied with the arrangement, we will begin the process of transferring your foreign pension to us.
Done!
It usually takes about 2-6 months before the transfer is complete, but it can also go faster. When the transfer is done, you can see your savings in the online bank and the app.

Management options for your pension earned overseas

When you transfer your pension, you can choose two management options:

Ålderspension Garanti (Retirement pension - Guarantee) is a convenient saving where sustainability is the focus. We manage everything for you and adapt the savings according to how far away you are from retirement. The savings also have a guarantee which means that you get back at least 85 percent of the contributed amounts when it’s time to retire.

Ålderspension Fond (Retirement pension - Fund management) suits you who would like to take care of your investments on your own. You can make relocations as often as you want and it costs nothing. We have a wide selection of funds with sustainable characteristics to choose from. If you don't make any fund choice, your money is placed in Nordea Pensionsportfölj that consists of funds with sustainable characteristics.

See current fund offering here. (Only available in Swedish)

Questions and answers about pension abroad

Can I transfer my pension from all countries to Sweden?

Today, we can help transfer pension from many countries, but not all, unfortunately. For example: Denmark, Finland, Island, Switzerland and USA have tax systems that differ quite a lot from in Sweden, so we currently cannot help with transfers from there. For Norway, we can only offer transfers for people who have lived and worked in the country for up to three years. In this case, Norwegian pension legislation limits your right to transfer your pension money to Sweden.

We can transfer pension capital from the following countries: UK, EU authority, Ireland, Luxembourg, Netherlands, Jersey, Malta, Belgium and Norway (if lived there for less than 3 years).

For pension capital in France, Spain, Italy and Germany, there is a limited possibility for transferring to Sweden and the cooperation with these countries is under development.

Can I transfer state foreign pension to Sweden?

If you have worked and paid tax in a country, there is often a state pension benefit that you have earned. With regard to the earned state pension, it is not possible to transfer from one country to another. However, there is cooperation between the European pension authorities. When it is time for you to start withdrawing your pension rights/benefits, contact the Pensions Agency in the country where you live. The Pensions Agency then helps to coordinate your Swedish public pension with pension rights earned in other EU/EEA countries.

What does it cost to move a foreign pension?

Nordea does not charge a fee to help with the transfer of a foreign occupational pension to Sweden. However, the foreign pension company can charge a cost. This is something we find out before you decide if you want to move your pension money to Sweden.

Is it difficult to transfer pension to Sweden, or can I do it myself?

Regulations on pension capital are extensive and knowing how to proceed is not always easy. So to answer that question – yes, it is difficult and we recommend that you obtain assistance in transferring your pension to Sweden. At Nordea we have a team that works daily with these matters.

Do I already need to have pension savings with Nordea to obtain assistance?

No, you don’t. We help everyone – both existing customers with pension savings at Nordea, and completely new customers.

I’ve worked abroad for many years and earned pension in many different countries. Can you help me, even though it’s complicated?

It is not at all uncommon for customers who have lived abroad for a long period of time to also have earned pension from different employers or different countries. We largely take care of the part that might seem complicated. We serve as a sounding board throughout the entire transfer process.

I have a large volume of documents in English from my foreign bank. Do I need to translate them?

No. Almost all documents and all contacts with various foreign pension companies are in English today. Also, Swedish is not the native language of many of the customers we help. As long as the documents are in Swedish or English, we are happy to help.

Transfer overseas pension to Sweden

Earned pension when you lived abroad?

Benefits of transferring pension back to Sweden

How to transfer your pension earned overseas

How to transfer your foreign pension to Sweden

Fill out the form

Contact

Advice

Transfer

Done!

Management options for your pension earned overseas

Questions and answers about pension abroad

Dela