Swedish municipal employees enrolled in either the KAP-KL or AKAP-KL pension schemes are now able to choose Länsförsäkringar as their provider.

The defined contribution (DC) KAP-KL is available to municipal employees born in 1985 or earlier, whereas AKAP-KL mainly covers those born in 1986 or later and is also a DC pension.

Länsförsäkringar is a Swedish group of customer owned insurance companies. The group consists of 23 independent companies, one in each of the counties of Sweden, that cooperate under a common brand name.

In a statement, Länsförsäkringar said that one million Swedes are now able to choose the company for their occupational pension for those choosing unit-linked insurance.

Employees in municipalities and regions, can choose Länsförsäkringar for future payments to their occupational pension and can transfer capital from other insurers.

Commenting, Länsförsäkringar Fondliv head of business, Mathias Collén, said: “As occupational pensions are becoming an increasingly important part of the total pension, this area is also an increasingly important piece of our customer offering.”

The company has lowered its fund management fee to 0.3 per cent, which is a decrease of 0.1 percentage points on current fees.

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