Earned pension when you lived abroad?
Today, it is not entirely uncommon to live and work abroad for short or long periods of time, 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. Mainly in countries such as the United Kingdom and Belgium, as well as various EU authorities. But we can also help with transferring pension capital from other countries. Such as Malta, Belgium, Ireland, the Netherlands and Norway.
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.
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)