Swedish insurance and occupational pensions association, Svensk Försäkring, is to become a member of PensionsEurope on 1 January 2022.
The decision was taken by PensionsEurope’s board of directors in Brussels on 22 June 2021 and will bring the total number of national pensions associations affiliated with PensionsEurope to 24.
Svensk Försäkring has around 50 member companies representing more than 90 per cent of the Swedish insurance and occupational pensions market. Six of these have been granted permission to transform into IORPs or have applied to do so at the Swedish Financial Supervisory Suthority. These companies have approximately €210bn in assets under management.
Recent changes in the Swedish occupational pensions market due to the Swedish implementation of the IORP II Directive have triggered the decision by Svensk Försäkring to join PensionsEurope.
Swedish occupational pensions were already represented within PensionsEurope by two other Swedish Members, namely SPFA and Tjänstepensionsförbundet, but most of the Swedish occupational pensions have been with insurance companies, which are members of Insurance Sweden.
Welcoming Svensk Försäkring, PensionsEurope’s chair Janwillem Bouma said: “I am delighted that Insurance Sweden have joined PensionsEurope. Sweden has a very strong pension system with a long history in which funded occupational pensions play an important role.”
“Together we will promote and secure good pensions for people in Europe. I look forward to working very closely with our new Swedish member.”
Svensk Försäkring managing director, Christina Lindenius, added: “With a growing number of occupational pensions companies among our members, Insurance Sweden regards PensionsEurope membership as a basis for remaining an efficient business association. I look forward to Insurance Sweden acting constructively in PensionsEurope, contributing with knowledge about the Swedish occupational pensions market.”
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