Sweden Snapshot

  • Sweden has one of the world’s best rated retirement systems
  • Majority of the respondents believe they are most responsible for funding their retirement
  • Flexible access early in retirement with stable income in later years is most popular option for accessing retirement savings


With a generous state pension, a majority of Swedes just about to enter retirement are somewhat confident of being able to maintain their desired lifestyle in retirement.

This report delves into findings from our Global Retirement Reality Report, focusing on how the expectations of Swedish people saving for retirement differ from the realities of those in retirement.

Here’s a preview of a few of the findings:

Optimism about retirement increases with age

The good news is that most Swedes believe it is important to be financially prepared for retirement. However, the majority of working age Swedes are not particularly optimistic about their financial situation in retirement — over half of workers more than five years from retirement state they are not optimistic.

Majority believe responsibility for adequate income in retirement lies with themselves

Even though there are high mandatory contribution rates as part of the government-run pension plans, surprisingly the majority of respondents believe that they themselves are most responsible for ensuring an adequate income in retirement. This view is even more marked in the working population than for retirees.  

People prefer flexible access to their retirement savings

Swedes are aligned with the rest of our global survey population in asking for flexible access to their pension pot in the early years of retirement. However, the majority of people are mandated to convert their retirement savings into an annuity. That said, they have flexibility over when to covert to an annuity and can take advantage of partial conversion from age 61.

What does this mean for sponsors, schemes and the wider industry in helping members to achieve better retirement outcomes?

To read the full report, contact

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Exp: July 31,2021