ITPK PENSION CHOICE – FOR PRIVATE SECTOR EMPLOYEES

2016
ITPK PENSION CHOICE
– FOR PRIVATE SECTOR
EMPLOYEES
You have started saving for your pension.
Your employer pays the premium and you can decide how some of the money is invested.
In this folder we tell you how to do it.
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WHAT IS ITP 2 AND ITPK?
You have a collectively agreed pension, ITP 2, through your employer.
ITP 2 is a supplementary pension for salaried employees in the
private sector.
Your employer pays a premium for this pension every month. Most of your
ITP 2 is managed and paid out by Alecta. But this brochure is about the
complementary retirement pension ITPK, which is the part you can invest
yourself by making an ITPK choice. Collectum makes sure that your ITPK
pension money is invested as you wish.
HOW MUCH MONEY CAN YOU DECIDE OVER?
Every month your employer pays a premium that corresponds to 2 % of your
salary for your ITPK. For example, if you earn SEK 35,000 per month this
would be SEK 8,400 per year. You choose how you wish to invest this money
by making an ITPK choice.
The ITP occupational pension is the
result of an agreement between The
Confederation of Swedish Enterprise and
The Council for Negotiation and
Co-operation (PTK).
Some people have an agreement
with their employer on additional
complementary premiums.
HOW MUCH WILL YOUR ITPK PENSION BE?
How much money you will have to live on later in life depends, among other
things, on how well your ITPK money has been managed and the amount of
the charges made by the insurance companies.
ITP 2 IS NOT ONLY MONEY FOR YOUR PENSION
ITP 2 not only provides you with financial security when you retire, but also
if you should become ill for a long period. You can also choose cover for your
family. Read more about this on the next page.
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HOW TO MAKE
THE ITPK CHOICE
Make your choice by completing the choice form you will
find at collectum.com.
In the ITPK choice you choose
■■ traditional insurance or unit-linked insurance in one company
Collectum’s charge is 1 percent of paid-in
ITPK premiums.
■■ whether you want repayment cover
■■ whether you want family cover.
TRADITIONAL INSURANCE
Traditional insurance provides a more cautious investment with certain guarantees. The insurance company decides how the money should be invested.
UNIT-LINKED INSURANCE
Unit-linked insurance is an investment with more risk but the possibility of a
more substantial increase in value. There are no guarantees. The money is first
placed in an entrance fund. You can then choose among the company’s funds.
WHAT TYPE OF SAVINGS SUIT YOU?
We cannot advise you on what you should
choose, but we can help you to compare
the different alternatives. Read more on
the last page about where you can find
help in making your choice.
REPAYMENT COVER
Repayment cover means that the family will receive your ITPK pension when
you die. You do not pay a fee, although you do incur a reduction of income. This
is because you will not receive a share of the so-called inheritance gain, received
by those who choose not to have a repayment cover. Choosing repayment cover
thereby impacts the size of your future pension. The inheritance gain is relatively small up until the retirement age, but becomes larger after that point.
If you change your choice of repayment cover in the future, this change will
apply to all your ITPK insurances within the same agreement area, if you have
several insurance contracts, and also to premiums paid in previously.
HOW MUCH CAN YOUR FAMILY
RECEIVE?
Visit collectum.com for more information
regarding the amounts and payment
periods you can choose for your family
cover, and who is entitled to receive
money after your death.
FAMILY COVER
Family cover is an extra pension which goes to your family if you die before
65 years of age. You can decide the amount and payment period. Depending on
what you choose and your age, family cover costs different amounts. The family
cover ceases if you are no longer employed with right to ITP. The family cover is
insured with Alecta. The cost of the family cover is deducted from the premium
your employer pays for your ITPK pension.
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SELECTED COMPANIES
We have carefully selected the insurance companies that you can choose to
manage your ITPK and we have made tough demands.
Among other things we have pressed down their charges so that your pension
will be as high as possible. Here are the selected companies that you can choose
between:
TRADITIONAL INSURANCE
UNIT-LINKED INSURANCE
Alecta
www.alecta.se
AMF
www.amf.se
AMF
www.amf.se
Danica Pension
www.danicapension.se
Folksam
www.folksam.se/itp
SEB
www.seb.se/avtalspension
Skandia Liv
www.skandia.se
SPP
www.spp.se/itp
YOUR SIGNATURE
To make your reply form valid
you must sign it.
Swedbank
www.swedbank.se/itp
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YOU CAN CHANGE YOUR
CHOICE IN THE FUTURE
When you make your first choice you have a so-called choice
period. You can, of course, change your choice even after the
choice period has expired.
MAKE YOUR CHOICE WITHIN THREE MONTHS
If your choice form reaches Collectum within the choice period (no later than
the date specified under D on the form), you do not need to fill in a health
declaration if you choose repayment cover and/or family cover. On the other
hand, if you make your choice after the choice period has expired – or if there is
no date in section D – you will have to complete the health declaration.
The choice period is three months.
IF YOU DO NOT MAKE A CHOICE
If you do not make an ITPK choice, your money will be invested in the default
alternative, which is the traditional insurance Alecta offers in the ITPK choice.
You will then have no repayment cover or family cover. You are free to add this
cover at any time. If you do this after the choice period has expired, you must
complete a health declaration.
IF YOU WISH TO CHANGE YOUR CHOICE
KEEP A LOOK OUT FOR THE
RED ENVELOPE
Every year you will receive a red envelope
from Collectum that contains an annual
statement with a summary of your
occu­pational pension. If you have any
questions about the value appreciation of
your occupational pension money, please
contact the insurance company that
manages your money.
You can choose another company for your future payments whenever you wish.
You may also transfer already earned ITPK to another company. You can also
remove or add repayment cover or family cover. If you do this you will need to
complete a health declaration.
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LIKE TO KNOW MORE?
Since we are impartial we do not offer any advice on
what you should choose. On the other hand, we can give you
objective information.
If you have any questions, please visit our website or give us a call:
■■ At collectum.com you will find more information about ITP 2 and ITPK,
repayment cover, family cover, types of savings and the companies’ charges.
■■ If you have any questions you are always welcome to contact our customer
service by telephone, +46 20 40 85 00.
WHAT DOES COLLECTUM DO FOR YOU?
The occupational pensions company Collectum is the choice centre for the
ITPK choice. One of our key tasks is to ensure that you, as a salaried employee
in the private sector, receive an occupational pension that is as high as possible.
We do this by making tough demands on the companies we contract to be
managers of the ITPK occupational pension. We are non-profit making which
enables us to offer you objective information when you make your choice.
Text Collectum • Grafisk form Ziggy Creative Colony • Illustrationer Rithuset • F260-098 • 2016.01
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