White-collar workers in Sweden embrace pensions transfer rights

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  • White-collar workers in Sweden embrace pensions transfer rights

SWEDEN - Nearly one in 10 white-collar workers in Sweden have used transfer rights for pensions since they were introduced two years ago, according to a survey by Collectum, the administrator of the country's white-collar supplementary occupational pensions.

Collectum said so far more than 100,000 workers have moved their pension capital, amounting to more than SEK6.6bn (€715m) in total.

Currently, 1.4m privately employed professionals in Sweden have the right to move all or parts of their supplementary occupational pensions.

To date, the three companies that have received the most of the inflows are AMF, Nordea and Swedbank.

Meanwhile, in a web forum discussing the transfer of assets between providers, customers criticised Collectum for the amount of time it takes to complete transfers.

In its defense, Collectum said the procedure to move assets was "complex".

Before year-end, the company aims to launch an automated system it has developed with fund providers, which should reduce the time it takes to move assets, it said.

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