Cautious tack keeps pensions flowing

By David WhiteNovember 2005 (Magazine)

It is the proud boast of the Sparinstitutens Pensionkassa (SPK), the pension fund for Sweden’s savings banks, that it has never been underfunded since it was created in 1944. The fund, a defined benefit scheme, has ridden out the recent storms in the equity markets, principally because of its conservative ...