Most savers in Sweden's premium pension system are satisfied with the support available to help them choose investment funds, according to a report from the Swedish Pensions Agency.

The report, Evaluation of the premium pension system's choice architecture – the 2026 evaluation, found that a majority of pension savers have never switched funds within their premium pension account and generally believe the support available was sufficient to make informed fund choices.

However, savers who had actively changed funds were more critical, with around half saying the support was sufficient.

Among those who had switched funds, more than eight in 10 said the fund selection confirmation clearly explained that they were taking greater responsibility for their investment decisions when leaving the default AP7 Såfa fund.

However, only around four in 10 believed it provided enough support for selecting funds.

The research also found that around one in four savers who have made their own fund selections and visited the fund marketplace since the introduction of the premium pension guide in 2024, had completed the guide's knowledge test. Uptake was lower among those who remained in the default fund.

Commenting on the survey findings, Swedish Pensions Agency analyst, Gustav Sundén, said: "Most people never change funds but are generally satisfied with the support that is available. This indicates that they abstain for reasons other than that they lack help.

“On the other hand, many of those who switch funds, often the most well-informed savers, think that the support could be better."

The report also noted that satisfaction with available support does not necessarily mean savers are making well-informed investment decisions.

"We know from research that people often make investment choices contrary to both their knowledge and their preferences,” said Swedish Pensions Agency analyst, Nichel Gonzalez.

“Therefore, future evaluations should also examine how the support affects the fund choices that are actually made."

The report was based on a winter 2025/26 survey in which pension savers and pensioners reviewed the premium pension guide, fund marketplace and fund selection confirmation before assessing the support available for choosing funds.

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