Sifa publishes full list of PPM consultation responses

Jonathan Boyd
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Sifa publishes full list of PPM consultation responses

The Swedish Investment Fund Association (Fondbolagens förening) has published a list to all the responses received to date on the consultation about the future of the the country's Premium Pension and proposals to significantly restrict self-selection choices of those subject to mandatory contributions.

The list - https://www.fondbolagen.se/aktuellt/nyheter/premiepensionsutredning---samtliga-remissvar/ - includes responses not only from the Association or industry related businesses, but also government agencies such as the Swedish Economic Crime Authority, the courts system, academic institutions and stock exchange operators.

There have also been consultation responses from abroad, such as from the London School of Economics and the Massachusetts Institute of Technology (https://www.fondbolagen.se/globalassets/aktuellt/nyheter/2020/remissvar-ppm-feb-2020/lse-mit.pdf).

The Swedish government in November 2019 received the results of an inquiry into the future of the Premium Pension system (https://www.regeringen.se/pressmeddelanden/2019/11/utredning-foreslar-reformerat-premiepensionssystem/) at which time it put forward proposals for legislation that would signficantly change acceess to collective investments for the purpose of long term savings constituting one of the pillars of the country's overall pensions system. It said then that "the state must take greater responsibility for a more secure system and good pensions".

The inquiry (https://www.regeringen.se/4adb1b/contentassets/8d5b58963b8d4734ab9f570abbbc2067/ett-battre-premiepensionssystem-sou-2019_44.pdf) put forward a number of proposals that in effect would see a significant restriction on access to investment funds, the imposition of a new government agency through the repurposing and renaming of the AP7 buffer fund, and overall a significant shift towards consumer protection as a guiding principle in the Premium Pension system.

 

 

 

 

Jonathan Boyd
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Jonathan Boyd

Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope.