6 million-plus Swedish long term savers can get funds reminder online
The annual reminder to some 6.7 million Swedish long term savers who can self select funds is going out digitally this year as well as through the well-known ‘Orange Envelope’.
The Swedish Pensions Agency – Pensionsmyndigheten – said the annual reminder of retirement savings sent through the post will carry a note on the outside of the envelope telling recipients that they can also check their savings online via the Agency’s website.
The Agency runs the funds platform for ‘premium pension’ or PPM savings, through which contributions can be directed to funds by savers themselves rather than going through a financial adviser.
The annual reminder to users of the system comes in an orange coloured envelope, which has become a byword for the process of reviewing long term savings and performing fund self selection at least once a year.
Because of the size of the platform and the amounts of regular savings involved, managers often negotiate lower fees.
For example, in the past week Scientia Fund Management announced it would lower its management fee to 0% on a number of its funds available on the platform, including: Inside Australia, Inside USA, Inside USA Small Cap, Inside UK, and Inside Canada.