Swedish fund association calls for easier savings ahead of elections
Ahead of Swedish voters going to the polls on 15 September, the Swedish Investment Fund Association has outlined a number of changes it hopes any new government would consider implementing.
As a trade body, the Association said that it would not comment on policies currently being proposed by individual political parties: it is intended to be an apolitical grouping of fund providers that will work with all political parties and whatever government arises out of the pending elections.
However, it did say that it would push any new government on key areas, including:
cross-party agreement on tax and savings policies intended to facilitate savings
long term, stable rules that are of benefit to companies, individuals and society, which will facilitate dealing with the challenges that the pending demographic developments suggest
Pia Nilsson (pictured), chief executive, noted in a comment to local publication Fond & Bank recently that “when it comes to the Premium Pension the political parties have different views, but it is a cross-party pensions group that needs to come to agreement. It is then difficult to understand demands to scrap the Premium Pension system.”
Nilsson and the Association point to figures suggesting PPM has thus far has offered investors an increase in value that on average is double that of the ordinary pension (‘inkomstpensionen’) most long term savers enjoy.
According to the latest DN/Ipsos poll the coalition of left of centre parties in Sweden would win 49.8%, and the right of centre coalition 35.7%.
If this was reflected in the new Parliament, then current prime minister Fredrik Reinfeldt, in power since 2006, would be replaced by Stefan Löfven, head of the Social Democratic Party, which is polling 31.1% currently.
The country goes to the polls for a general election on 14 September, which will also see voters elect members for 21 county councils and 290 municipalities.