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  5. > Employee Benefits in Sweden

Employee Benefits in Sweden

  • February 2015
  • -
  • Timetric
  • -
  • 66 pages

Synopsis
The Swedish social security system is an integral part of the country’s welfare system, and is classified into two types: the universal and social insurance system (old system) and unified social insurance, and the individual notional and mandatory individual accounts system (new system), which was established in 1999. The new insurance system covers persons born in or after 1954, while individuals born in or before 1937 are covered by the old system. With the exception of the earnings-related part of unemployment insurance, the social security regime is compulsory and covers everyone who lives or works in Sweden. To access all these social benefits, an individual requires a personnummer (a Swedish personal identity number) from the Swedish Tax Agency, and must register with the Försäkringskassan (Swedish Social Insurance Agency) for a social security number.

Summary
The report provides in-depth industry analysis, information and insights into employee benefits in Sweden, including:

- An overview of state and compulsory benefits in Sweden

- Detailed information about private benefits in Sweden

- Insights into various central institutions responsible for the administration of the different branches of social security

- The regulatory framework of employee benefits in Sweden

Scope
This report provides a detailed analysis of employee benefits in Sweden:

- It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits

- It covers an exhaustive list of employee benefits, including retirement benefits , death in service benefits, long-term disability benefits, short-term sickness benefits, medical benefits, workmen’s compensation, maternity and paternity benefits, family benefits, minimum resources, long-term care, unemployment and private benefits

- It highlights the economic and regulatory situations relating to employee benefits in Sweden

Reasons To Buy
- Make strategic decisions using in-depth information related to employee benefits in Sweden

- Assess Sweden’s employee benefits market, including state and compulsory benefits and private benefits

- Gain insights into the key employee benefit schemes offered by private employers in Sweden

- Gain insights into key organizations governing Sweden’s employee benefits, and their impact on companies

Key Highlights
- The Swedish social security system is funded through taxation and earnings-related contributions. Employers pay insurance contributions equivalent to 31.4% of the gross pay, while self-employed persons make contributions of 28.9% of their assessable income.

- The Swedish government also introduced insured persons’ contributions as a part of the old-age pension scheme. The insurance expenditure involves around 60% of contribution, with the remainder being financed by yield from funds, and by taxes via the State budget.

- Employees in Sweden are eligible for private benefits provided by employers, which grant access to a range of services that improve their quality of life.

Table Of Contents

Employee Benefits in Sweden
Table of Contents
1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
3 Country Statistics
4 Overview of Employee Benefits in Sweden
5 Regulations
6 State and Compulsory Benefits
6.1 Retirement Benefits
6.1.1 Introduction
6.1.2 Types of retirement plan
6.1.3 Eligibility
6.1.4 Age
6.1.5 Pensionable salary
6.1.6 Benefits
6.1.7 Payment options
6.1.8 Typical employer practice
6.1.9 Employee and employer contributions
6.1.10 Taxation
6.2 Death in Service
6.2.1 Introduction
6.2.2 Eligibility
6.2.3 Benefits
6.2.4 Payment options
6.2.5 Typical employer practice
6.2.6 Employee and employer contributions
6.2.7 Taxation
6.3 Long-Term Disability Benefits
6.3.1 Introduction
6.3.2 Eligibility
6.3.3 Benefits
6.3.4 Payment options
6.3.5 Typical employer practice
6.3.6 Employee and employer contributions
6.3.7 Taxation
6.4 Short-Term Sickness Benefits
6.4.1 Introduction
6.4.2 Eligibility
6.4.3 Benefits
6.4.4 Payment options
6.4.5 Typical employer practice
6.4.6 Employee and employer contributions
6.4.7 Taxation
6.5 Medical Benefits
6.5.1 Introduction
6.5.2 Eligibility
6.5.3 Benefits
6.5.4 Payment options
6.5.5 Typical employer practice
6.5.6 Employee and employer contributions
6.5.7 Taxation
6.6 Workmen's Compensation
6.6.1 Introduction
6.6.2 Eligibility
6.6.3 Benefits
6.6.4 Payment options
6.6.5 Employee and employer contributions
6.6.6 Taxation
6.7 Maternity and Paternity Benefits
6.7.1 Introduction
6.7.2 Eligibility
6.7.3 Benefits
6.7.4 Payment options
6.7.5 Employee and employer contributions
6.7.6 Taxation
6.8 Family Benefits
6.8.1 Introduction
6.8.2 Eligibility
6.8.3 Benefits
6.8.4 Payment options
6.8.5 Employee and employer contributions
6.8.6 Taxation
6.9 Minimum Resources
6.9.1 Introduction
6.9.2 Eligibility
6.9.3 Benefits
6.9.4 Payment options
6.9.5 Employee and employer contributions
6.9.6 Taxation
6.1 Long-Term Care
6.10.1 Introduction
6.10.2 Eligibility
6.10.3 Benefits
6.10.4 Employee and employer contributions
6.10.5 Taxation
6.11 Unemployment
6.11.1 Introduction
6.11.2 Eligibility
6.11.3 Benefits
6.11.4 Payment options
6.11.5 Employee and employer contributions
6.11.6 Taxation
7 Private Benefits
7.1 Retirement Benefits
7.1.1 Introduction
7.1.2 Eligibility for ITP
7.1.3 Benefits
7.2 Disability Benefits
7.3 Death Benefits
7.4 Medical Benefits
7.5 Other Benefits
8 Macroeconomic Indicators
8.1 Economic Performance
8.1.1 GDP at constant prices (US$)
8.1.2 GDP per capita at constant prices (US$)
8.1.3 GDP at current prices (US$)
8.1.4 GDP per capita at current prices (US$)
8.1.5 GDP by key sector
8.1.6 Inflation rate
8.1.7 Annual average exchange rate US$-SEK
8.1.8 Unemployment rate
8.1.9 Household consumption expenditure
8.1.10 Gross national disposable income
8.2 Demographics
8.2.1 Total population
8.2.2 Labor force
8.2.3 Urban and rural populations
9 Appendix
9.1 Methodology
9.2 Contact Timetric
9.3 About Timetric
9.4 Timetric's Services
9.5 Disclaimer

List of Tables
Table 1: Definitions
Table 2: Sweden - Country Statistics
Table 3: Swedish Long-Term Disability - Guaranteed Compensation
Table 4: Swedish Long-Term Disability Benefits - Self-Employed Contributions
Table 5: Sweden - Child Benefits Under Minimum Resources
Table 6: Swedish Minimum Resources - Household Common Expenditure
Table 7: Sweden Long-term Care - User Charges

List of Figures
Figure 1: Major Institutions of the Swedish Social Security System
Figure 2: Swedish GDP at Constant Prices (US$ Billion), 2008-2012
Figure 3: Swedish GDP per Capita at Constant Prices (US$), 2008-2012
Figure 4: Swedish GDP at Current Prices (US$ Billion), 2008-2012
Figure 5: Swedish GDP Per Capita at Current Prices (US$), 2008-2012
Figure 6: Swedish GDP by Key Sector (%), 2008-2012
Figure 7: Swedish Inflation Rate (%), 2009-2013
Figure 8: Swedish Annual Average Exchange Rate US$-SEK, 2008-2012
Figure 9: Swedish Unemployment Rate (%), 2008-2012
Figure 10: Swedish Household Consumption Expenditure (US$ Billion), 2008-2012
Figure 11: Swedish Gross National Disposable Income (US$ Billion), 2008-2012
Figure 12: Swedish Total Population (Million), 2008-2012
Figure 13: Swedish Size of Labor Force (Million), 2008-2012
Figure 14: Swedish Urban and Rural Populations (%), 2008-2012

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