A part of the employee's public pension was to be placed on the stock exchange, and in autumn 2000 the employee could make his first own choice. If no choice was made, the money was placed on AP7, which is the government's pre-selection option.
It is the Swedish Pension Agency that places and manages all pension money in AP7. Both my husband and I made an active choice and chose different private financial institutions.
Mainly due to, government agencies have a preference for choosing funds that primarily focus on the environment, ethics, sustainability and even start-ups instead of giving their client the absolute best return.
One example is Cake 0 Emission AB, which produced an electric dirt bike called Cake Bike. The company was started in 2016 and in 2018 the first model Kalk was launched.
In 2020, the company sold 1,700 bikes and the goal was that by 2030 the company would sell 70,000 bikes per year. Instead, the company was declared bankrupt on February 1, 2024.
The only owner prepared to step in with additional funding and save the company was AMF, which is an occupational pension company and pre-selection for privately employed workers. Neither my husband nor I have any savings in AMF.
Invest in the environment, ethics, sustainability or start-ups involves a risk where the capital may lose value or be completely wiped out. My pension money will secure my old age.
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