Denmark’s Velliv has secured funding for the preservation of the marine environment and biodiversity around the Galápagos Islands.

The funding has been obtained for the Galápagos Life Fund, which will focus on projects for the conservation of the islands, and will be continuously capitalised and will be self-financing from 2041. The agreement marks the world’s largest ‘debt-for-nature-conversions’, focusing on the allocation of funds for maritime biodiversity and marine conservation, economic stimulus for the local community in the Galápagos and improving Ecuador’s debt sustainability.

The Swedish Pensions Agency has decided to change the method for giving refunds in the premium pension’s traditional insurance.

The decision on the changed method for reimbursement in traditional insurance will take effect from 1 June 2023, as will the new rate of return method for distributing surplus. A rate of return will be introduced that adjusts the insurance values every month to match the return on assets. The rate of return can be positive or negative, which means that the pension capital can both increase and decrease.

The premium rate use to increase the TyEL insurance premium in Finland will increase to 3.85 per cent from 1 July 2023.

The interest rate for YEL insurance premiums will remain at the same level as the start of the year (2.45 per cent). The insurance premium rate was introduced in 2016, and its value was 2 per cent until the end of 2022. Interest rates have recently risen in the market, and its effect is also visible in the insurance premium rate, Finnish pension company Varma stated. The insurance premium rate is based on TyEL's 12-month reference rate quoted daily in Garantia but is always at least 2 per cent.

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