SPP challenged prejudices about pensions and older people at work

Member companies: SPP
Theme: ageism, inclusive communication, advocacy
Time period: 2024 - 2025

Background

SPP recognises that as we live longer, more people need to be given the opportunity to work longer - for the sake of the individual's finances, the sustainability of the pension system and the growth of society. At the same time, SPP sees that many people are leaving the labour market earlier than they want to. Not because they lack the will or ability, but because they are excluded. Ageism costs Sweden SEK 11 billion - every year. It is about missed growth, lost tax revenues, lower pensions and people who are not given the opportunity to end their working lives as they wish. That is why SPP is pushing the issue of ageism.

SPP's work in practice

SPP has pursued the issue of ageism through several different initiatives that together have focused on age discrimination, pensions and the possibility of a longer working life. The work has included a report on the consequences of ageism for individuals and society, the Pension Premiere as a way of changing the image of pensions and the Dream Capsule as a tool for getting more people to dream about their lives as pensioners.

Report shows how ageism affects individuals and society

In spring 2025, SPP released a report showing the impact of age discrimination, both on individuals and society.

The report was based on an extensive survey and showed that:

One in three recent retirees would have preferred to continue working.
Long-term unemployment among 60-64 year-olds has risen sharply.
Sweden loses up to SEK 11 billion in GDP - every year.
For the individual, this means thousands of dollars less - every month.

To counter this, SPP has proposed five concrete measures:

Reduced employer contributions from the age of 60.
Enhanced earned income tax credit.
More flexible working conditions and the possibility of teleworking.
Customised occupational pension contracts linked to target ages.
Increased age for occupational pension contributions.

Engagement on the issue has been at an all-time high, both in traditional media and on social channels, with thousands of people sharing their own experiences.

The pension premiere changed the image of retirement

In August 2024, SPP organised the Pension Premiere for the first time. The aim was to help change the image of what it means to grow older and retire.

Many people have an inaccurate and outdated image of what it means to be retired, associating it with older people living a secluded life where all the fun is gone. This image reinforces the ”I'll do it later” mentality and fuels disinterest in retirement savings.

As one of Sweden's few pure pension companies, SPP sees that the company needs to own the subject of occupational pensions, take responsibility and do what it can to change the image of pensions - from being ”the beginning of the end” to being ”the beginning of the good years”. The ambition is for both younger and older people to see retirement as something big and exciting, where they themselves can help create a future to enjoy.

At the end of August 2024, SPP had an open bus with around 40 new pensioners and SPP customers travelling around the streets of Stockholm to celebrate the new era in their lives. Later that day, SPP organised a party at Stureplan 1 with around 500 happy SPP pensioners, who were treated to a premiere party with a DJ, confetti cannons, drinks and snacks.

The Pension Premiere was a success and SPP has now established it as an annual tradition. For the 2025 edition, they were therefore able to scale up the activity with more partners and invited politicians and people from the business community.

The Dream Capsule got more people to articulate their retirement dreams

SPP also launched the Dream Capsule in 2024, a tool to get customers and potential customers to dream about their life in retirement. By 2025, the Dream Capsule had generated more than 6000 dreams linked to retirement. It has, for example, been featured at the Tech Arena and in Almedalen and has been an appreciated and well-attended activity for customers, potential customers, employees and partners.

Insights and results

Both the report and the Pension Premiere have received a lot of media attention. The Pension Premiere has also been nominated for and received several awards.
SPP recognises that the issue of ageism has had a major impact and that its activities have become an important voice in the debate.

Internally, the work has created pride, increased knowledge and a greater expectation of action on ageism.
SPP hopes to contribute to reducing ageism in society and sees the issue as important both for individuals and for society as a whole.

The company also hopes that the debate will galvanise more employers to review their policies and, where possible, offer flexible working arrangements and benefits that are attractive to the older generation.

For example, it may be that:

Give employees the option of hybrid or remote working if possible.
Offer a smooth transition to retirement through part-time work or gradual retirement.
Allow employees to choose benefits that suit their life situation, such as support for family life, pension savings or further training.

SPP wants to continue to challenge prejudices about ageism and instead help to ensure that older workers are seen as a valuable resource that can make a positive contribution to the workplace and society at large.