The Swedish Pensions Agency (Pensionsmyndigheten) has reported that total managed assets in the country’s pension system hit SEK5.4trn (€542bn) through 2016.
The figure is cited in the latest annual report from the Agency – Sveriges pensioner 2005-2016 – which also suggests that assets grew through that year by some SEK400bn (€40bn) on the previous year.
Inger Johannisson, analyst at the Agency responsible for producing the report, said: “During 2016, the managed capital in the national retirement pension constituted circa 43% of the collective capital, and the buffer capital some 25% and the premium pension capital some 19%. The occupational pension made up 48% of the collective capital.”
The capital appreciation was not the only reason the total assets grew through the year, however, as both payments in and out of the system increased – to some SEK470bn (€47bn) and SEK425bn (€43bn) respectively.
The biggest increase in payments in was made to the national retirement pension, while new savings into private pensions declined. That latter trend is explained primarily by changes to fiscal policy, which reduced deductions for people with occupational pensions to zero by the end of 2015. The continued decline in payments is most likely due to continued adjustment to the new regime, Johannisson said.
In terms of paymens out from the system, some SEK290bn was paid out from the income-based national retirement pension, of which payments from the premium pension hit SEK7bn. For the occupational pension, payments were about SEK100bn. Payments from the latter have increased by some 158% over the past decade, the Agency notes.
Click here to read the full report: https://www.pensionsmyndigheten.se/content/dam/pensionsmyndigheten/blanketter—broschyrer—faktablad/publikationer/rapporter/2018/Sveriges%20pensioner%202005-2016_v1.0.pdf