News in brief: 28 October

- Danica Pension has announced that it will invest a further DKK 100m in disease prevention.

The investment will be made over five years in an expanded programme for prevention in health. The Danish pension company has already invested more than DKK 10m in preventative efforts that, among other things, has increased interdisciplinary efforts between, for example, psychologists and physiotherapists, as well as the introduction of a health package, where online health experts have been able to advise customers in an early phase of an illness. As a priority, the money will go to strengthening the staff who have the day-to-day responsibility to ensure customers receive the right care at the right time.

- Sweden’s SPFA claim that article 4 and 6 of the Sustainable Finance Disclosure Regulation (SFDR) should not apply to pension foundations will be put to EIOPA.

Since 2021, the SPFA has been in contact with the Financial Supervisory Authority (FSA) due to the application of article 4 and 6 of the SFDR. Article 4 includes requirements for information on due diligence regarding negative consequences for sustainability factors, while article 6 sets requirements for what information must be provided before an agreement is entered into and the likely impact on returns for the financial products offered. The SPFA argued that these cannot be applied to pension foundations as they do not provide any financial products. The FSA has agreed to talk to EIOPA, with answers to be published in the coming months.

- Norwegian pensioners with a contractual pension or old-age pension from KLP can work with Ukrainian refugees for a special pensioner wage rate of NOK 300 per hour.

This wage rate will be paid without their pension being reduced. Municipalities in Norway have a need for additional staffing because of the arrival of refugees from Ukraine. The parties in the municipal sector have agreed on a separately determined pensioner's salary, with the Ministry of Labour and Inclusion changing the regulation. Ordinary pensioner pay is NOK 224 per hour, while the separate pensioner pay of NOK 300 per hour applies until 31 December 2022.

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