New information has emerged that the previous government, the Social Democrats and the Green Party, with the tacit support of the Left Party, have loosened the rules around the Swedish AP funds one step at a time for several years.
The strict regulations that Sweden had regarding the investment of pension money, where maximum returns have been leading for the AP funds, are today partially replaced with the possibility of investing in risky start-ups.
This has led to the current situation where a number of billions have been transferred to two limited partnerships where the Swedish pension money has been invested in risky unlisted climate start-ups.
I myself realized already in my early twenties that my chance of getting any public pension from the state pension that the Swedish Pensions Agency is responsible for was already largely non-existent and therefore I started my own pension savings in the early 1990s.
The state keeps moving the retirement age forward, hopefully I'll reach official retirement age before I die. In 2020, the age was moved forward to 62 years, and in 2022 it was moved further to 63 years. If they continue at the same pace, I will reach official retirement age and be able to receive a state pension in 2044, the same year I turn 74.
It is highly doubtful that there will be anything resembling a pension in Sweden when the world's most perfect teenager grows old if this continues.
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