The Swedish occupational pension company Alecta started investing in SVB Financial Group Stamaktier (SIVB) in 2019. As late as spring 2022, they chose to sell their entire holdings in the Swedish traditional commercial banks Svenska Handelsbanken AB (SHB) and Swedbank AB (SWED) in favor of SIVB.
According to Alecta, the loss will not significantly affect future pension payments at the individual level due to quote "Pensions for those born in 1978 or earlier are not affected by fluctuations in the stock market, but are based on salary and inflation. For those born after 1978, the impact will be marginal" unquote.
The company representative, Mr. Jacob Lapidus, goes on to say quote "they on the other hand have 25 years left until retirement" unquote. By that, the company means that the affected pension savers have many years left to build up the smaller loss this entails.
If Alecta can't get $0.5 billion over 25 years to affect the individual's final pension, there is absolutely no reason to keep your retirement savings with them, in my opinion.
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