Sweden’s pension reform agenda has included a structural reform of the buffer funds AP1-4 and the private equity focused AP6, including a review of how they manage their illiquid investments following the Northvolt debacle, a proactive platform-level fund selection and scrutiny of passive capital’s corporate impact.
An academic discussion in a leading business journal has spilled over into a fully fledged debate with the fund’s leadership
Pension fund/entity | Assets (€’000)
©IPE Research; View the Top 1000 European Pensions Funds 2025 for a comprehensive market overview
‘In worst-case scenario’, Sweden’s largest pension fund could be removed as provider of key occupational pension scheme
FTN says comparative returns data for first tracker procurement shows premium pension reform set to deliver average 0.5% point higher returns
Swedish pensions giant found at fault for pouring SEK50bn into residential investment where agreement was skewed from the start
Swedish buffer funds’ proportion of illiquid assets increased by only three percentage points in seven years, report says
Several of the country’s largest pension funds, including the AP Funds, described the move as disappointing
Plus: Finland’s pensions debate continues ahead of next year’s general election
Indecap Fonder lodges appeal with Stockholm court after losing out in Fund Selection Agency’s biggest procurement
Indecap Fonder reportedly announced its intention to appeal agency’s decision not to award it a premium pension mandate
Company | Assets (€m)
As at 30.9.3.23, *30.16.23, **15.11.23, ***10.6.22
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Sweden’s capital market success offers the EU a practical model for building inclusive, resilient markets
‘In worst-case scenario’, Sweden’s largest pension fund could be removed as provider of key occupational pension scheme
FTN says comparative returns data for first tracker procurement shows premium pension reform set to deliver average 0.5% point higher returns
Swedish pensions giant found at fault for pouring SEK50bn into residential investment where agreement was skewed from the start
Swedish buffer funds’ proportion of illiquid assets increased by only three percentage points in seven years, report says
Several of the country’s largest pension funds, including the AP Funds, described the move as disappointing
Plus: Finland’s pensions debate continues ahead of next year’s general election
IPE’s survey of European consultants reveals a complex patchwork of client preferences

Denmark
Sweden