Chapter

Sweden: A Viable Public–Private Pension System<sup>1</sup>

Gabriella Sjögren Lindquist and Eskil Wadensjö

in The Varieties of Pension Governance

Published in print March 2011 | ISBN: 9780199586028
Published online May 2011 | e-ISBN: 9780191725586 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199586028.003.0009
Sweden: A Viable Public–Private Pension System1

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The Swedish pension system developed through different stages from the establishment of the first statutory basic pension, the introduction of an earnings-related supplementary pension, and collectively negotiated occupational pensions to the most recent institutional change. A comprehensive pension reform was finally decided in 1994 which led to a switch to an earnings-related insurance with notional defined-contribution (NDC) and a mandatory funded personal pension component (premium pension). In the second pillar, occupational pensions negotiated by employers and trade unions came under financial pressures due to the decline of industrial employment, which led to some restructuring such as the gradual switch from defined-benefit (DB) to defined-contribution (DC) pensions. The chapter also examines the governance and design of these occupational schemes as well as personal pensions.

Keywords: Sweden; pension reform; basic pension; occupational pension; employers; trade unions; defined-benefit pensions; defined-contribution pensions; pension fund governance

Chapter.  9508 words.  Illustrated.

Subjects: Political Economy

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