Public sector
Get more flexibility with new savings account
At the collective bargaining in 2024 (Commonly known as OK24), it was agreed that public sector employees will be able to pay the part of their pension contribution that exceeds 15 per cent into a special savings account.
The money in the savings account will be invested so that you can earn a return, in the same way as with pension savings. The advantage is that you can choose to withdraw the money before retirement age if you want to finance a break in your working life, for example.
Contact P+ to learn more about the savings account
Contact ISP Pension to learn more about the savings account
How much can I put into my savings account?
You choose whether you want to put the entire part of your pension contribution exceeding 15 per cent into your savings account or if you want to settle for a smaller percentage. How much you can pay into your savings account depends on whether you are employed by the state, a region or a municipality.
State employee
As a state employee, your pension contribution will be 18.07% from 1 April 2025, so you have the option to put up to 3.07% into a savings account linked to your pension scheme or to have the amount paid out as salary.
The scheme will come into effect for state sector employees from 1 April 2025.
Employed in a region
As a regional employee, your pension contribution will be 20.57% from 1 April 2025, which means you have the option to put 5.57% into a savings account in connection with your pension scheme or to have the amount paid out with your salary.
The scheme will enter into force on 1 April 2025, but the Payroll Data Centres are still developing the systems that make it possible to deposit the amount in a savings account.
Therefore, you can initially choose between contributing to your pension or having the amount paid out as salary, and then you can choose to contribute to the savings account at a later date when the Payroll Data Centres' systems are updated.
Employed in a municipality
As a municipal employee, your pension contribution will be 21% from 1 April 2025, which means you have the option to put 6% into a savings account linked to your pension scheme or to have the amount paid out with your salary.
The scheme will enter into force on 1 April 2025, but the Payroll Data Centres are still developing the systems that make it possible to deposit the amount in a savings account.
Therefore, you can initially choose between contributing to your pension or having the amount paid out as salary, and then you can choose to contribute to the savings account at a later date when the Payroll Data Centres' systems are updated.
Does it make sense for me to deposit money into my savings account?
Only you can decide whether paying into your pension scheme is a good solution for you, and it depends on both your finances and your wishes for the future.
IDA does not advise members on the savings scheme, so you should contact either P+ or ISP Pension directly, depending on where you have your pension. Here you can learn more about how the money in your savings account is invested and taxed, and whether it is a good solution for you.
If you don't have P+ or ISP Pension, contact your own pension fund for advice on your savings account options.