Saab Pension Fund
The predominant plan in Sweden is the ITP plan under collective agreements between the Confederation of Swedish Enterprise and the Negotiation Cartel for Salaried Employees in the Private Business Sector (PTK). The ITP2 plan, which is based on an employee’s final salary, covers individuals born 1978 and before and is a defined-benefit plan, while the ITP1 plan is a defined-contribution plan and covers individuals born 1979 and after.
Saab’s defined-benefit pension plans in Sweden either are secured through transfers to the Group’s own pension fund, as liabilities in the balance sheet or are funded through insurance mainly with Alecta. The Saab Pension Fund, which secures part of the ITP2 plan, had assets of MSEK 8,120 (8,307) as of December 2022, compared to an obligation of MSEK 8,995 (12,864), calculated according to IAS 19, which means that the solvency margin amounted to 90 per cent (65%).