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New fund for Swedish public sector

Negotiations are under way between the Swedish National Agency for Government Employees, the Arbetsgivarverket and its representative trade union, SEKO, which could lead to the creation of a new pension fund for up to 240,000 employees in Sweden’s public sector.
SEKO and the Arbetsgivarverket have announced that they have entered into a new pensions agreement, whereby the fee structure and payout of assets as prescribed in the existing public pensions agreement will be overhauled.
But a spokesperson for SEKO, Sven-Olof Hellmann, says this is not an easy task and the changes may have far-reaching consequences. He says that the size and nature of the changes have thrown up a number of administrative and service issues, and the creation of an entirely new pensions system, including a search for asset managers, may be the solution.
There are no problems with the pension system as such, but there are institutional issues that we need to address,” he comments.“Creating a new public sector fund might ultimately be the way round the administration and service issues that have arisen as a result of the changes to the existing pension arrangement,” he adds.
The final decision is expected in the next few weeks.

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