Employee Benefits in Sweden, 2022 Update - Key Regulations, Statutory Public and Private Benefits, and Industry Analysis

Employee Benefits in Sweden, 2022 Update - Key Regulations, Statutory Public and Private Benefits, and Industry Analysis

Summary

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. Except for 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.

The report provides in-depth industry analysis, information, and insights of the employee benefits in Sweden, including an overview of the state and compulsory benefits in Sweden, detailed information about the private benefits in Sweden, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in Sweden.

Key Highlights

• The Swedish Social Insurance Agency, Swedish Pensions Agency, County Councils, Ministry of Employment, and Ministry of Health and Social Affairs are responsible for the functioning of the overall social security system.
• A person’s national insurance contribution is determined based on their income.
• An insured person who is unemployed or unable to work and whose benefits have been exhausted is entitled to credited contribution.
• In Sweden, the Confederation of Swedish Enterprise, the Swedish Trade Union Confederation (LO), the Confederation of Swedish Enterprise, and the Council for Negotiation and Co-operation (PTK) provide voluntary retirement benefits to their employees in various forms.

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, long-term disability benefits, Short-term sickness benefit, medical benefits, workmen's compensation insurance, maternity and paternity benefits, family benefits, Long-Term Care, unemployment, Minimum Resources, leaves and holidays 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 the country
• Assess employee benefits of the market, including state and compulsory benefits and private benefits
• Gain insights into the key employee benefit schemes offered by private employers in the country
• Gain insights into key organizations governing employee benefits market, and their impact on companies