Background & Purpose

To ensure a more cost-effective and purposeful management of the public pension buffer capital, the government proposed a streamlined fund structure with fewer entities.

The Decision

The Swedish parliament approved the government's proposal to merge several national pension funds and introduce stricter competency requirements for their boards.

Does this affect you?

  • Swedish pension savers: Affected by a more cost-effective and streamlined management of the national pension buffer capital.
  • Fund board members: Must meet new and stricter competency requirements regarding specific areas vital for fund management.

In Practice

  • The operations and assets of the Sixth AP Fund are transferred to the Second AP Fund.
  • The First AP Fund is dissolved, and its operations and assets are distributed between the Third and Fourth AP Funds.
  • New legal requirements mandate specific core competencies for the board members of the AP funds.
  • The overall number of buffer funds is reduced to make administration more cost-effective.