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.”
Legal & General Retail Retirement has acquired a 100% stake in Finovation Limited, a company specialising in pension pot tracing and consolidation.L&G this morning said the acquisition of Finovation, which trades as MyFutureNow, would support its defined contribution (DC) and retail retirement businesses by enabling it to provide customers with a view of their pension and retirement savings, including individual pots, workplace savings and their underlying investment assets.The acquisition comes a few months after the UK government presented the framework for its own initiative on pensions “dashboards” – digital tools intended to give individuals an overview of all their pension savings in one place.Chris Knight, CEO of Legal & General Retail Retirement, said L&G fully supported the government’s pension dashboard initiative, “but the reality is that it may be years before full coverage is realised”. According to a statement from L&G, MyFutureNow uses basic personal data and employment details plus “provider knowledge” to trace pension pots and provide updated details to customers. It could be used as a tracing service or as a way of creating a single ‘dashboard’ view of an individual’s pension savings portfolio.Emma Byron, managing director, Legal & General Retail Retirement Income, said L&G intended to make the new platform available through its DC business in the fourth quarter of this year, before launching it directly to consumers through its Retirement Income business in the first quarter of 2020.L&G said it would offer the MyFutureNow platform to its customers of retirement age but that it could also offer the service to working age customers. LGPS Central turns to KAS Bank for cost transparency assistanceLGPS Central, one of the UK’s eight local authority asset pools, will be using KAS Bank to help it with collecting and reporting cost information. The pooling vehicle will use KAS Bank to help it with collecting cost information across its range of investment mandates for pooled assets and those employed by its partner funds, according to a statement. A cost report to be generated by KAS Bank would be accessible to the LGPS Central team as well as its partner funds.The integrity and security of the cost data would be an important area of focus.Mike Weston, chief executive at LGPS Central Limited, said: “We are committed to being as transparent as possible about investment costs with our clients. We’re delighted to be working with KAS BANK and are looking forward to shining even more light on costs – one of the key benefits of the pooling process.”LGPS Central is the pooling vehicle for nine Midlands-based local government pension scheme (LGPS) pension funds with around £45bn (€48.6bn) of assets between them. LGPS Central is currently responsible for managing around £20bn of the assets.
The Executive Board of the Ghana Weightlifting Federation (GWF) has appointed Charles Osei-Asibey, a media practitioner as its Communications Director.A statement signed by Ben Nunoo-Mensah, President of GWF, said the appointment forms part of the GWF strategic plans to re-position themselves in the public as well as promote the development of the sport in the country.The GWF also seeks to tap on the expertise of Osei-Asibey to attract the needed sponsorship from the corporate world in a bid to make the sports the second most active sport in the country by 2014.Meanwhile, Kwaku Afrifa, has been appointed as the Director of Marketing and Sponsorship, whilst John Kofi Amuzu, takes the position of Technical Director.
The country is on lockdown until at least May 7, but government officials have spoken in positive terms about a potential return for football if the virus is under control.– ‘No football for months’ –Germany’s sports ministers have said the Bundesliga could return next month but Dutch football chiefs have called an end to the Eredivisie season and the Belgian campaign is in the balance.French Prime Minister Edouard Philippe said football would not return in his country until at least September.In the Premier League, full training is reportedly slated for mid-May, with the plan to be discussed at a meeting of stakeholders on Friday.However, Neville is concerned that the Premier League’s desire to conclude the campaign is being driven by financial motives, with the English top flight facing a huge hit if the 92 remaining fixtures are not played.The former England international said if it were a non-economic decision there would be no football for months but he acknowledged that players at lower levels would want to play because the alternative was “bad”.“(A total of) 1,400 players are out of contract in three months so they’ll need football to resume so their livelihoods can continue,” he said.“There’s huge economic loss. It clouds people’s minds in terms of the risk that they’re willing to take.”Share on: WhatsApp Gary Neville fears Premier League players will be put at risk if matches resumeLondon, United Kingdom | AFP | Gary Neville fears Premier League players’ lives will be put at risk if football is rushed back too soon after the coronavirus-enforced lockdown in Britain.Premier League chiefs are aiming for a return to action in June and several clubs opened their training grounds to players this week as they work on “Project Restart”.The English top flight is understood to be aiming to run a huge testing operation to keep footballers safe, with reports of 26,000 tests being lined up for players and staff.But FIFA’s medical chief Michel D’Hooghe said on Tuesday that football should not be played until September and former Manchester United defender Neville is worried that Premier League stars will be put in danger by the rush to return.“The FIFA medical officer said that football should not take place before September. I think if it was a non-economic decision there would be no football for months,” Neville told the Sky Sports Football Show on Wednesday.“People are now assessing risk. How many people have to die playing football in the Premier League before it becomes unpalatable? One? One player? One member of staff goes into intensive care? What risk do we have to take? The discussion is purely economic.”Neville voiced his particular concerns over the risk to players with existing medical conditions.“If health comes first, there is only one outcome at this moment in time. How many players have got asthma? How many players have diabetes?“Have they assessed all of these things and are they willing to put those people at risk?”The UK is among the worst-hit countries in the global COVID-19 pandemic, with more than 21,000 deaths so far.