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By Rachel Fixsen2021-02-18T16:27:00+00:00
Sweden’s cross-party Pensions Group has reached agreement on how investment funds will in future procured for the reformed Premium Pension System, and given the green light to slash the number of funds savers can choose from.
The health and social affairs ministry yesterday evening announced details of the plan for the first-pillar system of individual pension accounts – part of the overall state pension – and how it would function following the second stage of the system’s reform.
The Pensions Group agreed back in 2017 that the platform, called the funds marketplace (fondtorget), would be a procured one rather than the current system where all applications from private funds meeting set criteria are accepted. It also decided it would operate under a principal, which last September was decided would be a board authority.