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Reuters
Reuters
Business

Swedish centre-left govt proposes raising pensions in $1 billion reform

FILE PHOTO: The Swedish flag is seen at Gamla Stan, the Old City of Stockholm, Sweden, May 7, 2017. REUTERS/Ints Kalnins

Sweden's centre-left government said on Monday it would propose raising pensions for the elderly with the lowest incomes in a reform that will cost 9.4 billion crowns ($1.00 billion) in 2023.

The Social Democrat minority government agreed with the Green and the Left parties to raise pensions by up to 1,000 crowns tax free per month for the half a million pensioners with the lowest incomes, the parties told a joint news conference.

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