Employee Benefits in Sweden

Published: Feb, 2015 | Pages: 66 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)


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 Forsakringskassan (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

Reason 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
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