Länsforsikringar loosens guarantee on pension product

Swedish financial group Länsforsikringar will in future include alternative assets in its guaranteed pension product. At the same time, it is lowering the guarantee on new pension deposits to 80 percent from 100 percent after 10 years.

Malmö-based financial group Länsförsäkringar announced this week that its guaranteed pension product will in future also contain alternative assets, such as forestry investments and real estate. The product currently holds primarily securities and equities/shares.

At the same time, the ordinary capital fee is being reduced to 0.65 percent from 1.0 percent, and for new savers, deposits will have a guarantee level of 80 percent. Previously, pension savers had a 100-percent guarantee for their deposits after ten years of savings in this particular pension product.

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