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Report: Swedish pensioners best off in Europe

As political parties battle it out for grey vote ahead of the upcoming elections by promising the largest tax cuts, a report by finance firm AMF shows that Swedish pensioners enjoy the best financial situation in Europe.

Published: 17 August 2010 17:00 CEST

Even without the tax cuts, the situation for pensioner groups is improving with them suffering lower rates of financial deprivation than other groups in society.

The proportion of pensioners with low economic standards has fallen steadily since 2000, when it was about 7 percent. By 2007, the figure had fallen sharply to only 2 percent.

In the same time period, among the general population, the figure increased over the years from 8 percent to just under 15 percent, according to the Ministry of Health and Social Affairs.

“The group of pensioners is not so easy to describe,” said Gunilla Nyström, private economist at SEB. “Among them are older women who have not worked full-time and now live on social security and housing supplements.”

“At the same time, pensioners own a very large proportion of the Swedish people’s total wealth. As such, there are pensioners who in principle do not own anything and have very low incomes and there are pensioners who have a very good pension and significant assets.”

From an international perspective, Swedish pensioners are doing very well. According to a statement made in 2008 by AMF, Swedish pensioners and their Austrian counterparts actually had the best living conditions in Europe. Moreover, the Swedish pensioners were happier than the Austrians, according to the survey.

However, the Swedish National Pensioners’ Organisation (Pensionärernas riksorganisation, PRO) claims that pensioners have slipped behind – at least at the individual level.

According to a report by the PRO, the real wages of workers have increased by 40 percent over the past 15 years, while those of pensioners in principle has remained flat.

“This is a development that will not end unless something radical is not done,” said Maja Fröman, information director at PRO.

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'The people around me don't seem to really care': The French defying Macron

Photo: LIONEL BONAVENTURE / AFP

Whether a postman, maths teacher, physiotherapist or firefighter, all said they were not just demonstrating over the shake-up of the pensions system but for better working conditions generally.

Better pensions

Claire, a 32-year-old firefighter from the southern Alpes-Maritimes region: “I'm demonstrating today to demand that our profession be recognised as hazardous, which would give us the right to better pensions.

“We also want more staff as our numbers are constantly falling.

As doctors become more scarce in the countryside, making it increasingly difficult to get an emergency call out, we're the ones people turn to.

“But when we come to the rescue, in 80 percent of cases it's something that we cannot resolve. So we send people to hospital, which clogs up emergency rooms.”

France's pension system: How it works and what does Macron want to change?

Against 'the whole system'

Romain Rozat, 37-year-old maths teacher in a Paris high school: “The pension reform is just the spark that sent us into the street.

We're protesting against an entire system, including a reform of school curriculum last year which did not go down well. It's a disaster for students.

“The continuous assessment that was put in place makes it harder for students to get into college. There's not much we can do as teachers as schools' budgets for teaching hours are being cut.”

Police in Paris fear more violence at 'yellow vest' marches on Saturday

Public service pride

Serge Wattelet, a 59-year-old postman in the western Paris suburb of Sartrouville: “I'm demonstrating against the pension reforms but not only. Our profession has been turned upside down. I was happy and proud when I joined the postal service in 1982 but it's less and less a source of pride nowadays.

“These days, we no longer provide a proper public service. A lot of postal workers are on short-term contracts, which has an impact on the quality of service.

“In the past, we used to prepare the mail and deliver it. Today, the tasks are divided up and mechanised. It's feels as if our profession is being taken away from us.”

Doing the 'dirty' work

Wahid Chouchane, a 29-year-old employee of state electricity grid operator Enedis: “When I signed my contract I was supposed to retire at 55. Now it's 62. But in our job, whether there's hail, wind or snow, we go out into the mud, into the fields, to repair electricity lines. The only thing that stops us is lightning.

“In the place where I worked previously, three of my oldest colleagues died before reaching retirement age.

“That's why I'm demonstrating, to show that our job is difficult and wears you out. Those who govern us don't understand the value of work. They're not getting their hands dirty like us.”

For the right to protest

Harold Herrou, 25-year-old physiotherapist from the western city of Nantes, part of the “yellow vest” protest movement:

“I came in my FC Nantes football jersey because the police took my yellow vest last week when I was demonstrating in Paris.

“Today, I'm not only demonstrating over pensions but also for the firefighters, the nurses, for people sleeping in the street at a time of mass tax evasion.

“It's also for the right to protest and because the people around me don't seem to really care.”

Our forefathers fought

Georges Miath, a 56-year-old employee of Otis elevator company in Paris: “I'm marching to defend our living conditions, which are being undermined. Between staff cuts and shortages we're being asked to do more with less but without any extra pay. Meanwhile, the cost of living is going up.

“Our forefathers fought so that we could enjoy better living conditions.

“Blood was shed but now everything is falling apart. Out of respect for them, and to ensure a better future for our children, we have a duty to be here. If not, at what age will they retire at? 70? 75?”

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