Foreign Pension Transfer Calculator for Sweden – What You Need to Know

If you've worked abroad and built up a pension outside Sweden, you're not alone. Many Swedes have spent years in countries like the UK, the UAE, the US, or around Europe — and are now wondering:Can I move my pension home to Sweden? Should I? And how much will I actually get after tax and fees?

This article is for you. We're currently developing a Foreign Pension Transfer Calculator, designed to help you estimate what your pension might be worth once it's been transferred to Sweden. But even before you use a tool like that, there are some important things to understand — especially around taxes, currency, and legal rules that affect your decision.

Taxation – The Biggest Piece of the Puzzle

One of the first (and most important) questions is where your pension will be taxed. This depends on the agreements Sweden has with the country you earned your pension in — called double taxation agreements (DTAs). These rules decide which country has the right to tax your pension, and whether you’ll be taxed once or twice.

In many cases, if you live in Sweden, Sweden will want to tax your foreign pension — even if it's being paid out from another country. If you're transferring your pension as a lump sum (rather than receiving monthly payments), you could be facing income tax in Sweden at a flat rate of around 30%.

Some countries have stricter rules. For example, UK pensions might be subject to a 25% transfer tax unless you meet certain conditions. And in the US, tax rules around 401(k)s or IRAs are especially complex. Even if the US taxes your pension, Sweden may still claim its share unless you've properly coordinated everything with your tax advisor.

In short — don’t transfer anything without knowing how the Swedish Tax Agency (Skatteverket) will treat it.

Currency Exchange – A Hidden Cost (or Opportunity)

Another thing to keep in mind is that your pension is likely sitting in another currency: GBP, USD, AED, or EUR, depending on where you worked. Transferring that into SEK (Swedish kronor) means you’ll have to deal with exchange rates — and possibly bank or broker fees.

Some people choose to move their pensions in stages to minimize the risk of poor timing. Others use specialist FX providers to get better rates than their local bank. Either way, you’ll want to look at both the market exchange rate and the actual rate you’re being offered — they’re not the same.

The calculator we’re building will help estimate the net value after currency exchange, so you can get a more accurate picture of what your pension might be worth in Sweden.

Legal Rules and Transfer Restrictions

Beyond tax and currency, you’ll also face legal and administrative rules depending on your pension type and the country it's held in.

Some pensions are not legally allowed to be transferred abroad. Others have strict rules about who can receive them and under what conditions. For example, the UK has a list of approved overseas pension schemes (QROPS), and you can only transfer your pension tax-free if your new plan qualifies.

In the UAE, end-of-service benefits from your employer may be paid as a lump sum — but they may not be considered a “pension” by Swedish standards. That can affect both how it’s taxed and how you can report it.

You’ll likely need documents, certified IDs, and sometimes even direct correspondence between your pension provider and the Swedish authorities. It’s manageable — but it’s not always straightforward.

Why We’re Building a Calculator

All of this complexity is exactly why we’re developing a Foreign Pension Transfer Calculator for Sweden. Our goal is to help you:

• Estimate how much tax you might pay

• See what your pension is worth in SEK after conversion

• Understand which rules might apply based on your country of origin

• Get early warnings about potential tax or legal complications

We’re not financial advisors, but we are building a tool that helps you ask smarter questions, plan better, and decide whether to talk to a professional.

If you want early access to the calculator when it launches, just let us know in your free pension check submission.

Before You Make a Move

If you’re thinking about transferring a pension to Sweden, here’s what we recommend:

Start by getting an overview of your foreign pensions — what country they’re in, how much they’re worth, and what type of plan they are. Then, explore whether those pensions can even be transferred — not all can.

Once you know the basics, it’s time to look at taxes, exchange rates, and local legal rules. For many people, this is where a specialist advisor becomes essential — especially if your pension is significant, or if it involves countries with more complex rules like the UK or the US.

Disclaimer

This article is for informational purposes only and does not constitute financial, tax, or legal advice. Pension transfer rules vary depending on your personal situation and the countries involved. You should always consult with a qualified professional before making any decisions. Laws and tax regulations may also change over time.

📊 Real-Life Examples: How Much Do You Actually Get?

Let’s look at two realistic user cases that show how tax and currency exchange can impact your pension transfer to Sweden.

Example 1: UK Private Pension – £85,000 Transfer to Sweden

Background:Sara, 52, worked in London for 10 years and has a private pension worth £85,000. She’s now living in Gothenburg and wants to move the money to Sweden as a lump sum.

Key factors:

• Exchange rate: 1 GBP = 13.2 SEK (at transfer time)

• Transfer method: UK SIPP (not QROPS approved)

• Swedish tax: 30% income tax (standard flat for pension withdrawals)

Calculation:

• Pension value: £85,000 → ~1,122,000 SEK

• Tax (30%): 336,600 SEK

• Net amount after tax: 785,400 SEK

What made a difference?Sara’s choice to transfer as a lump sum triggered full income taxation in Sweden. Had she taken it as scheduled withdrawals, she might have spread the tax impact over several years. Also, the GBP/SEK rate jumped shortly before the transfer — adding over 40,000 SEK to her total.

Example 2: UAE End-of-Service Pension – AED 300,000 Paid Out

Background:Marcus, 45, finished a contract in Dubai and received an end-of-service benefit of AED 300,000. He’s now in Malmö and wants to bring the money to Sweden.

Key factors:

• Exchange rate: 1 AED = 2.88 SEK

• No income tax in UAE

• Full tax applies in Sweden (no DTA)

• Potential fees from UAE bank

Calculation:

• AED 300,000 → 864,000 SEK

• Tax in Sweden (30%): 259,200 SEK

• Bank transfer/FX fee (estimated 2%): ~17,000 SEK

• Net received in Sweden: ~587,800 SEK

What made a difference?Because the UAE doesn't tax pensions, Marcus owes full Swedish tax on the lump sum. Plus, using his UAE bank for the transfer meant a poor exchange rate and hidden fees. If he had used an FX platform, he could’ve saved thousands.

FX Timing Can Matter a Lot

Let’s say the GBP/SEK rate dropped from 13.2 to 12.6 after Sara requested her transfer but before the funds landed. That would reduce her SEK value from 1,122,000 to 1,071,000 — a 51,000 SEK drop just from currency movement.

💡 This is why some choose to split the transfer, use FX forward contracts, or work with an advisor that helps time the exchange better.

Ready to Estimate Your Own Outcome?

We’re building a Foreign Pension Transfer Calculator that will allow you to enter your pension amount, origin country, and preferred transfer method — and get an estimated outcome in SEK after tax and FX.

Until then, you can get started with a free, personalized pension check — we’ll help you get a sense of how much of your pension you can actually expect to keep.