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.

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    If you are satisfied with the arrangement, we will begin the process of transferring your foreign pension to us.

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    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