Information about the Social Insurance system in Sweden
Established at the turn of the 20th century and developed during the post-war era, Swedish public social insurance (also called social security) covers all Swedish residents. It is compulsory and is based on the principle of redistribution.
Everyone contributes, but only the disadvantaged receive benefits. Its aim is financial security during the different stages of life and it is financed by contributions and tax. Contributions are mainly paid by the employer and very little by the individual.
“Försäkringskassan” (the Swedish Social Insurance Agency) manages the social insurance and allocates the money. The social security system in Sweden covers almost everyone living and working in Sweden. The main objectives of the social security system are to provide:
• Guaranteed minimum level of financial security to residents
• Financial support for people who are either ill, disabled, parents or pensioners