Swedish government appoints Cardano as adviser for pension system restructuring
Written by Talya Misiri
The Swedish government has appointed Cardano to advise on the structural overhaul of its pension system.
Cardano, the risk and investment manager, will undertake a feasibility study into structural changed needed for its national pension system (PPM).
It has been noted that following a period of volatility in Swedish pensions, there is a severe need to make the PPM robust and secure, safeguarding against future pension premiums abuse.
Cardano’s head of innovation Stefan Lundbergh will oversee the project with the Swedish government. He has previously served as a pension fund board member and pension fund consultant in the Netherlands, the UK and in Sweden, in addition to risk management at Cardano.
Swedish Social Security Minister Annika Strandhäll, said: “In the past year, Sweden has uncovered scandalous abuse of the system, with premiums for pension savings used for personal gains. Such a state of affairs in our social security system is completely unacceptable. We have asked Stefan Lundbergh of Cardano, as an independent expert, to analyse our system and identify various alternatives for structural change.”
Cardano UK CEO Kerrin Rosenberg, said: “Cardano’s mission is to ensure every pensioner receives a fair pension from a stable scheme. Our approach is based upon a foundation of thorough, structural risk management. As such, we are delighted to have been instructed by the Swedish Government at a critical time in the evolution of its pension system.”