Sweden’s Krykans Pension (Church of Sweden pension fund) has announced it made a return of 7.6 per cent on its investments in 2023.

This is significantly better than its 2022 return when it made -4 per cent but has not yet reached the levels of 2021 when the return was 17.8 per cent.

Krykans Pension’s average return over the past five years is 8.6 per cent and the industry average for the past five years is 6.2 per cent. Krykans Pension’s average solvency ratio was 251 per cent at the end of 2023, compared to 262 per cent at the end of 2022. The Church Pension's total capital amounted to SEK 25,812m, an increase of SEK 1,548m on 2022’s SEK 24,264m.

In November last year, the board of directors of the pension fund decided to reduce the bonus interest rate for defined contribution pensions from 6 per cent to 5 per cent, which has been in place since 1 January 2024. During the same meeting it also increased the pension supplement for defined benefit pensions in payment by 9.14 per cent.

The pension fund also announced recently that it has appointed Petra Sundewall as accounts manager. She joins from the position of group financial controller at Ontech Group, which is an international VCC fund. Before that, she was an accounts manager at Alba Invest AB, which is a family office. Sundewall has an economics degree from Stockholm University with an emphasis on both business and economics. She will take up her position on 2 April.

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