Sweden’s New Target Retirement Age: What You Need to Know
From January 1, 2026, the Swedish pension system will introduce a new target retirement age of 67. This age will serve as the new benchmark for retirement and will influence several important rules around when different pension benefits can be paid out.
The target age is not a legal requirement to stop working. However, it does play a major role in determining when you are eligible to access various parts of the national pension and related benefits. As a result, many people may need to plan for a longer working life.
Why Is the Retirement Age Being Raised?
The main reason is increasing life expectancy. As people live longer, pension savings must be spread over more years. Without changes, this would lead to lower monthly pension payments. According to the Swedish Pensions Agency (Pensionsmyndigheten), the target age is designed to help maintain more stable pension levels as longevity increases.
When Can You Withdraw Your Pension?
The target age affects when different pension components become available:
- Income pension and premium pension can be withdrawn starting three years before your target age (for many people, from age 64 if the target age is 67).
- Guarantee pension, housing supplement, and income pension supplement can only be received from your target age (for many, from age 67).
Who Has a Target Age of 67?
The Pensions Agency has confirmed that a fixed target age of 67 applies to people born in 1963 or earlier. For those born in 1964 and later, the target age is still only an estimate and may change in the future.
Current projected target ages by birth year are:
- 66 years: born 1958–1959
- 67 years: born 1960–1966
- 68 years: born 1967–1980
- 69 years: born 1981–1996
- 70 years: born 1997–2014
It’s important to note that these figures are forecasts, not final decisions. For example, someone born in 2000 currently has a projected target retirement age of 70, but this could be adjusted over time.
