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According 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.”
Doc Redman made a fine start to the Rocket Mortgage Classic, carding a seven-under 65 to be in a three-way tie for the lead on Thursday.Redman, runner-up at the PGA Tour event last year, holed eight birdies and a bogey during a strong opening round at Detroit Golf Club in Michigan. Coming off two missed cuts since the PGA Tour season resumed amid the coronavirus pandemic, Rickie Fowler made a solid start.A quick start and a solid finish to Round 1 for @RickieFowler.Highlights from his 5-under 67 Thursday @RocketClassic. pic.twitter.com/K313brsASO— PGA TOUR (@PGATOUR) July 2, 2020Fowler fired a five-under 67, mixing seven birdies with a double bogey, to be part of a 14-way tie for 11th.Defending champion Nate Lashley, who won by six strokes last year, opened with a one-under 71. The American, 22, shares the lead with Scott Stallings and Kevin Kisner, the latter having produced a bogey-free first round.Bryson DeChambeau is among a group of seven players a shot back of the leading trio.MORE: DeChambeau reveals diet that made him super beefyDeChambeau has finished in the top 10 in his past six starts and opened with a 66 that included an eagle at the par-five 14th.A 6-under 66 has @B_DeChambeau one shot back of the lead after Round 1 at the @RocketClassic. pic.twitter.com/6DDgGKgJ7J— PGA TOUR (@PGATOUR) July 2, 2020Peter Malnati, Emiliano Grillo, Chase Seiffert, J.J. Spaun, Matt Wallace and Chris Stroud are alongside DeChambeau at six under.