Swedish local authorities pick Skandia for pension administration, insurance
Skandia has won orders from 10 local authorities in southern Sweden to provide pensions administration and insurance solutions covering some 16,500 staff, with most contracts starting from 1 October.
The sales build on Skandia’s similar existing deals with some 30 local authorities, as well as contracts with others to, for example, supply alternative pension solutions. Following the latest sales, Skandia in Sweden will be administering pensions for some 90,000 staff of local authorities and executing payments of some 30,000 pensions each month.
The Sweden based Skandia group is developing into a mutually owned banking, investments and insurance (including pensions) supplier, following its demerger from the Old Mutual group of businesses.