SWEDEN - The Swedish Premium Pension Authority (PPM) will place around 2.6bn euro in its associated funds on January 9.
The new capital investment means that 5.1 million pension savers will get their savings increased by around 503 euro each on average.
5.4 million people currently have around 20bn euro in savings in PPM's pension funds. New capital is placed in the funds annually, and by 2015 it is estimated that 6.5 million savers will have yields worth around 75bn euro.
The new capital placement of 2.6bn euro will be divided and placed in the funds that each individual saver has chosen. There are currently around 700 funds to chose from in the system.
Statistics from PPM shows that the vast majority of savers in the PPM system get positive returns on their fund savings.
By November 2005, 1.8 million pension savers had seen their savings increase with between 10 and 20%, whereas 850 000 savers had gained returns of more than 30%, according to PPM.
By Andreas Walstad
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.