Occupational Pension Day is a great opportunity to spend 15 minutes thinking about your occupational pension.

Celebrate Occupational Pension Day on 27 September with us!

How secure is your future in a changing environment?

The issue of occupational pensions, health insurance and other aspects of occupational pensions is not straightforward. Most of us honestly see it as something that is complicated and boring, not really the first thing we think of when we get out of bed in the morning, is it? But it doesn't actually have to be as complicated as many people think, let's look further!

How you feel today is more important than you think for your retirement...

What would happen to your company and your finances, both now and in the future, if you were to suddenly fall ill or have to take time off work for an extended period? It's likely that your company's income will be lower and probably your salary too. The direct impact is of course mostly on personal finances, rent, any loans, car and food to be paid. Many people have a buffer for these costs and can manage in the short term, but what are the consequences for the future?

Skipped insurance -> Got sick -> Low benefits -> Low pension

In my daily work, I come across a lot of entrepreneurs who, for various reasons, have fallen on hard times. Many have worked on their business, taking a lower salary, skipping necessary insurance or savings in the belief that they are building value in their business. That's not at all wrong, but oh so important to supplement and insure in case bad luck strikes.

For those of you who do not currently have an occupational pension and related insurance, you are in fact left without any security in case of bad luck. What do you do if, for example, you get injured or burn out and are unable to generate income in your company? The social security system is of course available, but there is a ceiling on benefits, so what do you do if you suddenly have to get by on perhaps 50% of the salary you had previously?

Not only a protection for your income but also a safe way back to work...

Taking out health insurance for yourself through your company is a great idea! If bad luck strikes, you can focus on recovering knowing that the health insurance complements the Social Security and, in a flash, you have up to 90% of your salary instead while you can't work, safe and sound! You can also supplement your health insurance with a premium waiver to ensure that your pension continues to be topped up during the time you can't work, doesn't that sound great?

Do you have to sit down and go through piles of forms? No, taking out health insurance or a social security package is no more difficult than clicking home a pair of shoes!

Saving because you want to, not because you have to is not entirely true...

Isn't it nice to sometimes have no musts, no need to clean up, cook dinner or even save? Unfortunately, the conditions for saving for retirement are a little different. Many entrepreneurs I talk to these days have the habit of either relying too much on the value of their company, the value of their home or the public pension, is that the right idea?

Secure savings with flexibility...

Of course, you can build great value in your company and your home, but what happens to your pension if housing prices fall just before you stop working? What do you do if your company suddenly doesn't have the same value? For many, the answer is simply to work longer. What is the best way to protect yourself if bad luck strikes?

An occupational pension perhaps, which can also be adapted to your circumstances and needs and linked to health insurance or a security package. The fact that it is also tax-efficient for you as an entrepreneur to save in an occupational pension for yourself and any employees does not make matters any worse. The fact that you can also use your company's savings to save for you, without having to rely on the state pension being sufficient or selling your company or home at just the right time in the future, can lead to less anxiety and reduced pension anxiety as you approach retirement age.

Choosing the right retirement savings is as important as choosing the right clothes on a cold morning...

There is a plethora of occupational pensions out there, how do you know if you are choosing the right one and what is important to consider? It's a very common question, but also one that is generally difficult to answer unless you take the time to compare and read up. Why should it be so difficult? Why is there no comparison site for occupational pensions like there is for home insurance or car insurance, for example?

Specifically, there are a number of elements that you should take into account. First of all, I assume you don't want to pay more than you have to? If so, you should make sure you choose a savings plan without fixed or variable insurance fees. Then I suppose you also don't want to get stuck in any administrative hassle when changes have to be made? Then you should look at what solutions are simple and digital. Last but not least, you should think about your interest in investments and funds? If your interest is low and you don't have the time to go through it regularly, you should think about whether advice, digital or in person is important to you.

Give yourself the gift of 15 minutes to examine how confident you are today about the future, you deserve it...

So what does it look like for you at the moment? Do you have an idea of what you'll be like if you're unlucky? How much pension will you need when you retire? Isn't it hard to know? Isn't it harder to find out how you are doing? But as I wrote at the beginning, it doesn't have to be very complicated at all. You can easily compare different pensions on the Pensure website, and if you have a spare quarter of an hour, we can talk and chat about your future security and if there is anything we can help you with, we will of course do so on your terms.

I hope you have gained something to think about and hopefully we will have the opportunity to talk further in the future!

Ervin Fazlic, partner Pensure AB
Mail: ervin@pensure.se
Mobile: +46 70 444 54 12