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Swedish pensions are reduced more than expected

Significant changes for 2014

byke
post 20.Feb.2013, 07:36 PM
Post #1
Location: Europe
Joined: 28.Oct.2008

DN had a very interesting write up today regarding pensions in Sweden.

SWEDISH VERSION :
http://www.dn.se/ekonomi/pensionsskolan/pe...-an-vantat-2014

ENGLISH TRANSLATION :
http://translate.google.com/translate?hl=e...-an-vantat-2014
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jostein
post 20.Feb.2013, 07:41 PM
Post #2
Joined: 22.Mar.2011

Swedish pensions, unicorns and the redrobed fatty!
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Hamsterdam
post 20.Feb.2013, 07:42 PM
Post #3
Joined: 25.Mar.2012

You should get a job with The local. They also cut and paste plenty of shit stories hand in hand with bad grammar laugh.gif
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Yorkshireman
post 20.Feb.2013, 09:20 PM
Post #4
Joined: 22.Nov.2011

Of course pensions are going to be lower, there is an adjustment in standard of living going on throughout europe. It isn't unexpected.

What is a surprise is that when a forecast is done and then re-adjusted someone believes that the world is falling down ... forecasts are forecasts, it is a bestimate-guestimate ...if whoever made those forecasts was a super-duper-expert that could always be extremely accurate ...they would have used that skill to make sooooo much money on say the stock-market or something else ...and certainly wouldn't be working for a living providing forecasts of pensions biggrin.gif
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Svensksmith
post 21.Feb.2013, 12:15 AM
Post #5
Joined: 28.Jul.2011

Face it, we are all going to have to work much longer...to pay for those who aren't.
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skogsbo
post 21.Feb.2013, 07:11 AM
Post #6
Joined: 20.Sep.2011

we are an aging population, if you live longer, because of better food and healthcare, clearly the pay back is you need to work longer to fund it. Can't win them all.

A pension crisis is looming, state pensions are unaffordable, the many private schemes like the UKs annuities system aren't working either.
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Essingen
post 21.Feb.2013, 10:43 AM
Post #7
Joined: 2.Nov.2008

I fail to see how the Swedish state system can be considered unafordable. Current figures suggest that the average person picks up around SEK 11,500 a month from the Swedish state pension system, which varies between 40 and 50 per cent of his or her salary. A typical occupational pension supplement in Sweden adds around 10 per cent of final salary to this. Not very much in my opinion given that tax allowance are virtually zero and the whole amount is then taxed.
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skogsbo
post 21.Feb.2013, 11:29 AM
Post #8
Joined: 20.Sep.2011

The problem is their will be many more people claiming this, and for 20,30,40 years as we all live longer etc.. but the number in employment as a proportion will decline.
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byke
post 21.Feb.2013, 11:41 AM
Post #9
Location: Europe
Joined: 28.Oct.2008

In regards to this claim that people are living longer, is that really true?
Obesity and similar issues are becoming an ever greater cause of early death.

Its a very pie in the sky claim, as we have no idea what projections we have for the future.
And can easily be manipulated or used by political groups to cover up their short comings.
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AW1
post 21.Feb.2013, 11:51 AM
Post #10
Location: Södermanland
Joined: 20.Mar.2012

Interesting read;
http://www.oeaw.ac.at/vid/download/edrp_2_09.pdf
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Onourway
post 21.Feb.2013, 12:03 PM
Post #11
Joined: 21.May.2006

I'm a Brit living in Sweden and find the Swedes (where I live) to be on the whole, friendly, helpful and painfully naive thanks to their trust in a system which costs them a lot of money but which is very generous when they need it. Rarely have I heard a Swedish neighbour complain at the level of tax they pay or at the pension they receive.

Watching Sterling fall against the Kroner has made me question the intelligence of the people who believe the Kroner to be a great investment when compared to the Pound because having experienced both countries, all that I can see is a huge social and economic shit storm heading Sweden's way, to the point I'm considering going back to the UK.

Coming from the UK, I've lived with multi-culturism all my life but UK immigration of the 50's, 60's and 70's is very different to the immigration that we're experiencing today. The shortage of workers for unskilled jobs that made us turn to our former colonies aren't there now and the immigrants we receive aren't the ones we hand picked back in their own countries. These new immigrants are largely male, of a certain age and often from war torn countries. More importantly they usually arrive at our borders with a story that we can't corroborate.

Liberals (which is ultimate what Sweden is) are quick to tell you how these people have had terrible experiences. They base their view on the the asylum seekers own stories, naively believing that these people wouldn't consider telling lies. I've befriended an asylum seeker in my village and over the months we've had many conversations (in English) and I've questioned why he didn't choose the UK where in my opinion he would have been better suited and he freely admits that he came to Sweden because of a better welfare system.

I don't blame him for that and I'm sure he isn't alone but his story has made me realise that Sweden lacks the population and jobs to sustain this level and type of immigration and I believe that without some rapid curbs and forced repatriation of undesirables they risk losing what is a great tax and welfare system and ultimately social and economic catastrophe.
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Yorkshireman
post 21.Feb.2013, 12:11 PM
Post #12
Joined: 22.Nov.2011

QUOTE (byke @ 21.Feb.2013, 11:41 AM) *
Obesity and similar issues are becoming an ever greater cause of early death.

Actually, there is a growing body of medical research studies that indicate this may not exactly be so...
one published not long ago concluded:

In a study of US national data collected during 2000 to 2006, obesity (BMI 30-35 kg/m2) was not
associated with increased mortality risk during up to 6 years of follow-up. Although severe obesity
(BMI 35 kg/m2) was associated with increased mortality risk, the association was accounted for by
coexisting diabetes and hypertension. Finally, the mortality risk of diabetes was lower among both
obese and severely obese persons than among those in lower BMI categories. Thus, in this study, the
mortality risk associated with obesity was lower than in previous studies, which employed BMI data
collected more than 10 years ago.
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Essingen
post 21.Feb.2013, 12:50 PM
Post #13
Joined: 2.Nov.2008

QUOTE
Watching Sterling fall against the Kroner has made me question the intelligence of the people who believe the Kroner to be a great investment when compared to the Pound because having experienced both countries, all that I can see is a huge social and economic shit storm heading Sweden's way, to the point I'm considering going back to the UK.

Other people might question the intelligence of people moving back there!

Whilst I agree with you that immigration is a challenge for Sweden and that the economy is somewhat fragile, you can't get away from the fact that the UK already has a huge budget deficit which it seemingly can't address, given that most of the money is used for healthcare, social benefits and pensions. What we are seeing now is that sterling is pretty much a one way bet, given that policy makes would like to see it weaken and that structurally it ought to weaken anyway.

I think if you look at macroeconomic management and quality of government, you would be VERY hard pushed to make a case that the UK has been better managed than Sweden during the last 30 years. Going forward, it is difficult to say, but I wouldn't put my money on the UK quite honestly.
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Onourway
post 21.Feb.2013, 01:39 PM
Post #14
Joined: 21.May.2006

Essingen, you obviously have strong beliefs and a well considered opinion so I'll agree to disagree with you and in truth, I hope you're right. Sweden is a beautiful country but her people are very different to the British and I doubt they possess the characteristics required to dig themselves out of the growing mess that is appearing on the horizon.

A strong currency is the last thing that a country with such a small population, massive social system and reliance on manufacturing output needs at the moment.
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Essingen
post 21.Feb.2013, 02:01 PM
Post #15
Joined: 2.Nov.2008

Good luck back in the UK. At least if you are selling property here and buying there, it is an almost idea time to do it. If you are going to be a pensioner there, it is probably financially advantageous too.
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