Folksam Liv raises the bonus rate for occupational pensions
Written by Sunniva Kolostyak
The Swedish pension and insurance provider Folksam Liv is raising the bonus rate for its occupational pensions and life insurance customers due to high returns.
Folksam Liv, which is part of the Folksam Group together with pension fund KPA Pension among others, has raised the bonus for occupational pensions from 3 to 4 per cent starting from 1 June.
In a statement, Folksam Liv business area manager Anna-Karin Laurell commented: “Our work to create good returns for our customers continues to bear fruit.”
“We are pleased to raise the bonus rate for both our life insurance and for the occupational pensions. Our commitment to our customers is about safeguarding a long-term, safe and stable return on their pension savings,” Laurell said.
The group noted that the amendment is in line with Folksam's consolidation policy. The collective consolidation rate, which shows the relationship between the value of the assets managed and the customers' total insurance capital, amounted to 116 per cent for occupational pension as of April 30.
For life insurance, the total insurance capital reached 119 per cent. The bonus rate for these customers has been raised from 4 to 5 per cent.
The bonus rate is before taxes and fees have been applied.