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​Booming Swedish economy boosts inflows for pension providers

first_imgAccording to the report, premium payments to occupational pension schemes grew by 12% over the past year across the board, or by SEK18bn (€1.7bn) in absolute terms.Within this, inflows to collectively agreed occupational pension schemes using Sweden’s online pension centre, known as Valcentralen, increased by 17% or just over SEK10bn. For those schemes outside the election centre system, contributions rose 9%, or just over SEK2bn.The association attributed the rise in part to the increase in provisions for the occupational pension system, which was due to stronger economic conditions boosting the rate of employment and the total wage bill in Sweden.Svensk Försäkring also said, however, that Swedes were earning more and entering the higher pension contribution bracket of 30% of salary or higher, instead of 4.5%. Contributions to Swedish occupational pension providers increased by 17% in the first quarter compared to the same period last year, according to figures published by Swedish industry association Svensk Forsäkring.Of the country’s main providers, Folksam and Alecta increased their market share over the period, while Skandia and AMF experienced decreases, the data showed.The three largest funds – Folksam, Skandia and Alecta – accounted for 38% of premiums paid annually, as of 31 March.Martin Solberger, quantitative analyst at Svensk Försäkring, said: “There are several reasons why occupational pensions are growing strongly. Provisions for the occupational pension system have increased, in many contract areas.”last_img read more

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Cahill: Tipp minors left chasing All Ireland Final game

first_imgTommy Nolan hit the back of the Galway net late on and but it wasn’t enough as the Tribesmen held on to win the Irish Press cup.Afterwards Tipp manager Liam Cahill admitted they were chasing the game in the second half while Galway manager Jeffrey Lynskey felt Tipp tired in the second half. Galway ran out convincing 4-13 to 1-16 winners at the final whistle, despite a massive performance from the Premier County that saw the sides go into the dressing room at half time on level pegging. Tipp hitting ten first half points to Galway’s 1-7, Brian Concannon hitting the first goal for Galway.They added three more in the second half from Liam Forde, Cian Fahy and Michael Lynch.last_img read more

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