SWEDEN - Handelsbanken has decided to take over the occupational pensions of SAS's Swedish pilots from Alecta, with insurance capital of over SEK7bn.
This deal represents one of the largest single occupational pension deals ever carried out in the sector.
The deal was a portfolio transfer of the occupational pensions of SAS's Swedish pilots to the Swedish branch of Handelsbanken Life & Pensions.
A spokesperson from Handelsbanken was unavailable for comment.
In a separate development, Swedbank recently decided to cut 50 jobs from its newly acquired asset management arm, Folksam, in a deal which should boost the bank's pension assets.
Under the terms of the acquisition, Folksam will transfer SEK170bn in assets under management (AUM) of pension capital to Swedbank, taking its AuM to SEK635bn.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers