Sweden’s SH Pension has received permission from Finansinspektionen to become an occupational pension company under the country’s act on occupational pension companies, as part of IORP II regulations.

It will transform into an occupational pension company on 1 June 2021, and its legal name will change from Svensk Handel Pensionskassan to Svensk Handel Pension Tjänstepensionsförening (SH Pension) under the act (2019:742).

“We have for a long time worked hard to adapt to the new regulatory requirements. And having now been approved is an important milestone for us in our development journey,” SH Pension CEO, Annelie Helsing, said.

In connection with this, SH Pension will now be able to provide both traditional insurance and unit-linked insurance within the association. The next step is to incorporate the unit-linked insurance company's operations into the association and thus have all operations in one company – SH Pension.

“In addition to the increased security for customers due to higher transparency and comparability that the regulations entail, it is an advantage that the previous requirement for membership in Swedish Trade disappears and we become an open association. This means that many more will have the opportunity to take out our traditional insurance - our safest form of savings,” Helsing said.

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