Updated 25 October 2026
Quick answer: In Sweden in 2026, there is no national minimum wage (pay floors are set by collective agreements); an average earner keeps 77% of their pay after income tax and social security; household electricity costs €0.306 per kWh; petrol is €1.64/L, up 14.4% since February; the state pension age is 67 (guarantee pension). The table below puts 9 everyday money measures for Sweden side by side and ranks each one against the other countries in our data, using official figures from national statistics offices, central banks, the OECD and Eurostat.
Against the other countries in our data, Sweden stands out here: its state pension age, 67 (guarantee pension), is the 5th highest of 39 countries; its 2027 pay-rise forecast, 3.0%, is the 4th lowest of 29 countries; its petrol price, €1.64/L (+14.4% since Feb), is the 4th lowest of 29 countries. It sits nearer the middle for state pension (as a share of pay). It has no minimum wage and no inheritance tax for children.
Sweden at a Glance
| Measure | Sweden | Rank |
|---|---|---|
| Minimum wage | None by law (collective agreements) | — |
| Tax on an average wage | 22.6% (keeps 77%) | 10th lowest of 38 |
| Pay rise forecast 2027 | 3.0% | 4th lowest of 29 |
| Electricity (household) | €0.306/kWh (≈ $0.34) | 7th highest of 33 |
| Petrol price | €1.64/L (+14.4% since Feb) | 4th lowest of 29 |
| State pension age | 67 (guarantee pension) | 5th highest of 39 |
| Pension (share of pay) | 66.3% of net pay | 25th highest of 50 |
| Bank deposit protection | €100,000 per person, per bank | — |
| Inheritance tax (children) | None | — |
Rank compares Sweden with the other countries in each dataset; "highest" means the largest value. "—" means the measure isn't ranked.
Minimum Wage in Sweden (2026)
Sweden has no statutory national minimum wage. Pay floors are set sector by sector in collective agreements between unions and employers, which cover most workers and are often higher than the legal minimums of neighbouring countries.
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Income Tax and Take-Home Pay in Sweden
A single worker on the average wage in Sweden (about $66,000 at purchasing-power parity) pays 22.6% of gross pay in income tax and employee social security, so they keep 77%. That is 10th lowest of 38 countries, against an OECD average of 25.1%.
Income tax and employee social security take 22.6% of pay at the average wage, 19.6% at two-thirds of it and 32.7% at 1.67 times it. Including employer contributions, the total tax wedge is 41.1% of labour costs.
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Pay Rises in Sweden: 2027 Forecast
Employers in Sweden expect to raise salaries by 3.0% in 2027 (median of the major pay surveys), after 3.3% in 2026.
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Electricity Prices in Sweden
Households in Sweden pay about €0.306 per kWh of electricity (about $0.34), 7th most expensive of 33 countries; the EU average is €0.283. Change: +12.9% vs late 2025.
Household gas: €0.220 per kWh. Typical household using 2,500–5,000 kWh a year, all taxes included, January–June 2026.
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Petrol Prices in Sweden Since the Iran War
Petrol in Sweden costs €1.64/L (week of 19 October 2026), up 14.4% from €1.43/L in the week before the Iran war began. It peaked at €1.77/L (23 Mar). At about $1.84 a litre it is 4th cheapest of 29 countries, and the rise is 4th smallest of 29 countries.
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Retirement Age in Sweden
The state pension age in Sweden is 67 (guarantee pension) for people reaching it in 2026; the earliest you can claim is 64 (income pension). Future change: Ages linked to life expectancy. The earnings-related income pension can be drawn from 64; the 'target age' is 67.
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How Much the State Pension Pays in Sweden
A full-career average earner in Sweden can expect a mandatory pension worth about 66.3% of their previous net pay, 25th most generous of 50 countries (OECD average 63.2%). Low earner (half the average wage): 67%. High earner (twice the average): 84%.
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How Much of Your Money Is Protected in Sweden
Bank deposits in Sweden are protected up to €100,000 per depositor, per bank (about $111,900), the limit set by EU law for every member state. Harmonised by EU law; local-currency equivalent outside the euro. Money in payment apps and e-money wallets is usually not covered.
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Inheritance Tax in Sweden
Sweden has no inheritance tax for children. Abolished in 2005.
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Sweden vs Denmark, Finland and Norway
The same measures for Sweden and its nearest neighbours in our data, side by side.
| Measure | Sweden | Denmark | Finland | Norway |
|---|---|---|---|---|
| Minimum wage | None by law (collective agreements) | None by law (collective agreements) | None by law (collective agreements) | None by law (collective agreements) |
| Tax on an average wage | 22.6% (keeps 77%) | 35.3% (keeps 65%) | 30.7% (keeps 69%) | 28.1% (keeps 72%) |
| Pay rise forecast 2027 | 3.0% | — | 2.9% | — |
| Electricity (household) | €0.306/kWh (≈ $0.34) | €0.237/kWh (≈ $0.27) | €0.269/kWh (≈ $0.30) | €0.199/kWh (≈ $0.22) |
| Petrol price | €1.64/L (+14.4% since Feb) | €2.60/L (+34.4% since Feb) | €2.33/L (+35.8% since Feb) | — |
| State pension age | 67 (guarantee pension) | 67 | 65 (national pension) | 67 |
| Pension (share of pay) | 66.3% of net pay | 77.1% of net pay | 65.7% of net pay | 54.9% of net pay |
| Bank deposit protection | €100,000 per person, per bank | €100,000 per person, per bank | €100,000 per person, per bank | NOK 2 million per person, per bank |
| Inheritance tax (children) | None | top rate 15% | — | None |
Compare Sweden With Other Countries
See every country side by side in Compare Countries 2026: Wages, Tax, Mortgages and Pensions, or compare Sweden with nearby countries in our data: Denmark, Finland and Norway.
Related Guides
Figures checked against the official sources listed in each linked guide in October 2026. Exchange-rate conversions are approximate. This page is for information and isn't financial or legal advice.
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