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Union wants safer pension system amid reform: "Too many still see this as Monopoly money"

Swedish insurance industry union Forena calls Swedish politicians "arrogant" for not guaranteeing compensation for savers if they lose money due to financial crime within the premium pension platform. The suggestion is part of a larger reform proposal from the union concerning the entire Swedish pension system.

Forena Head of Social Policy Håkan Svärdman. | Photo: PR / Forena

Sweden’s future retirees can expect their retirement compensation levels to plunge. The level is "slowly creeping downwards" to less than 45 percent of the salary a worker has just before retirement for everyone born after 1961 and below 40 percent for those born after 1992, Swedish insurance industry union Forena informs in a new report.

To force the government into action, the union started lobbying for a six-point reform in 2019. The new report published last week has been updated with fresh numbers, and Forena concludes that pension levels continue to fall at an astounding rate.

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