From January 1, the income pension will increase by 4.0 percent. For example, someone who currently has 18,000 kronor in income pension will see an increase of 720 kronor from the turn of the year.
This follows the wage development in society, which was significantly higher this year than last year. The past inflation years, 2022 and 2023, have otherwise been poor for wage earners who have seen their real wages eroded significantly. In January 2024, the income pension was only increased by one percent.
Inflation vs. Wages
For those who have earned poorer pensions during their lives and therefore have a guaranteed pension, they will have to settle for a pension increase of 2.6 percent from the coming turn of the year.
The guaranteed pension follows inflation. Therefore, guaranteed pensioners have had a significantly better development over the past two years. In 2024, the guaranteed pension increased by around nine percent, according to Monica Zetterwall, pension expert at the authority.
And the year before, it looked roughly the same, when the income pension increased by three percent and the guaranteed pension by almost nine percent.
So it has been two very unusual years, you can say, both 2023 and 2024, says Monica Zetterwall.
Several Parts
For those who have both guaranteed pension and income pension, the increase will be between 2.6 and 4.0 percent.
In 2024, there are approximately 2.3 million pensioners in total. Of these, almost half have income pension without basic protection, such as guaranteed pension or housing allowance. 900,000 have both. About 300,000 have no income pension at all or very low, they live entirely on guaranteed pension and housing allowance.
The full guaranteed pension for singles born in 1938 and later is 11,603 kronor per month before tax this year.
In addition to this, the development of premium pension, the part invested in funds, will be added. How this turns out will be clear in December, according to the Pensions Authority. This part, however, makes up a relatively small part of the pension. Moreover, most people have occupational pension added on top of the state part.
