Sweden’s public sector pensions provider KPA Pension saw contributions rise by more than one-quarter last year, while investments beat 2012’s performance with a return of 8.2%.
The local government pensions subsidiary of insurance group Folksam reported premium income of SEK9.9bn (€1.1bn) in 2013, up 28% from the year before.
KPA Pension said: “The strong increase is due to the fact more people, either actively or by default option, chose KPA Pension as their occupational pension company within the KAP-KL agreement, as well as an increase in redemptions business.”
The firm reported a total return for 2013 of 8.2%, up from 2012’s 7.2%.
Its solvency level increased to 172% in 2013 from 150% in 2012, the company said.