Pension Plans
Databricks provides a Defined Contribution (DC) Pension Plan, which allows you to save for retirement.
Eligibility
Regular employees of Databricks Sweden aged 18 to 65 who meet the 'Fully Fit For Work' criteria are eligible to participate from their date of hire.
Enrollment
Eligible employees will be automatically enrolled from their date of hire.
Contributions
Databricks provides a contribution of 20% of On Target Earnings (defined as base salary plus target variable compensation). The premium for the Long Term Disability Plan and the Waiver of Premium Plan are paid on top of this contribution.
The contributions paid into the pension plan are automatically assigned to the default fund ‘Swedbank Robur Räntefond Kort A’ with Nordnet. Employees can change the investment choice following individual meetings with the broker, Söderberg & Partners or via the pension portal.
Additional Voluntary Contributions
Employees can make additional voluntary pension contributions via salary sacrifice. With salary sacrifice, you have the option to give up part of your base salary each month in exchange for a pension contribution. You also have the option to exchange part of or all of your variable compensation, bonus or commission.
The minimum amount to exchange is SEK 1,000 per month. You can start this at any time during the year if your salary is above 8.07 IBA**. The sacrifice must remain in place for a minimum of 12 months and exclusion periods may apply.
The highest possible amount for salary sacrifice is limited by current deduction rules. The total pension contributions must not exceed 35% of On Target Earnings (defined as base salary plus target variable compensation) or 10 PBA* per year. 2025 PBA* (price base amount) = SEK 58,800
2025 IBA**(income base amount) = SEK 80,600
Click here to view Databricks' Sweden pension guidelines
Questions? Contact Henrik Mokhtari via email at henrik.mokhtari@soderbergpartners.se
