Hundreds of thousands of Swedes have received letters sent to them from the Pension Authority. The reason? They are now forced to change pension funds – either through their own choices or by allowing the authority to choose new ones.
By Thursday, March 27, those who have money in global index funds, which should no longer be included in the PPM system, must have answered if they do not want the money to automatically be moved to an equivalent alternative.
– There are about 270,000 people who have received letters home about this. It says that the fund you have not included in this procurement and then you are offered an equivalent fund in the same category, says the Pension Authority’s pension expert, Monica Zettervallto Sweden’s Radio.
The reason for the change is the gigantic procurement on which funds should remain in the PPM system. From the choice around several hundred funds, the number is now lost significantly.
The purpose is to improve the quality and control where only funds that meet the new requirements regarding sustainability and fee levels should remain, reports Sweden’s Radio.
If you are one of all those who have now received a letter regarding compulsory change, it is important to know that you have ten days to answer the Pension Authority if you want to choose a new fund yourself, otherwise an automatically is chosen by the authority.
– There are still relatively small categories of funds and when the larger procurements are made in the fall and winter 2025, which is Swedish funds and global funds, then we expect a slightly increased activity, says Zettervall.
Those who instead have their pension money in the seventh AP Fund are not affected, report The radio channel for.