WRITTEN QUESTION E-2732/02 by Robert Goebbels (PSE) to the Commission. Conclusions to be drawn from the Swedish pension fund experience.
Date: 2002-09-30
Institutions: European Parliament, Provisional data
Subjects: Sweden, pension scheme, supplementary pension

6.3.2003

EN

Official Journal of the European Union

C 52 E/207

(2003/C 52 E/229)

WRITTEN QUESTION E-2732/02

by Robert Goebbels (PSE) to the Commission

(30 September 2002)

Subject: Conclusions to be drawn from the Swedish pension fund experience

A new system for the funding of pensions was brought into force in Sweden in 2000. Under the new
arrangements, over and above the general system which will provide future pensioners in Sweden with a
minimum pension guaranteed by the State, workers may contribute to 450 investment funds managed by
sixty or so international fund managers which should, in principle, provide members with a supplementary
pension based on the appreciation of the contributions paid.

What initial conclusions may be drawn from the new Swedish system? What was the average performance
of these investment funds in 2001? Can the Commission say whether any lessons have been learned from
the Swedish experience?

Answer given by Mrs Diamantopoulou on behalf of the Commission

(21 October 2002)

The reformed Swedish pension system will continue to be the main source of income for pensioners and
partially replaces earned income before retirement up to 7,5 income base amounts (SEK 38800 in 2002,
i.e. a total of 291000 or roughly EUR 32 000 per annum). The contribution rate amounts to 18,5 % of
earnings of which 16 are channelled into the pay-as-you-go system and 2,5 % into the ‘premium reserve
system’ under which individuals are free to choose up to five funds among currently 600 different funds
with varying risk profiles. Every year, all those covered by the new pension system receive detailed
information on their accumulated pensions capital accrued both within the pay-as-you-go and the
premium pension system.

The Swedish national strategy report on the future of pension systems has just been submitted to the
Commission. It will be subject to indepth analysis by the Commission together with the reports of the
other Member States, the conclusions of which will be published towards the end of 2002. It is, however,
already possible to notice that
the total assets accumulated by the premium pension system on
31 December 2001 amounted to 3 % of the gross domestic product (GDP). The report does not evaluate
the financial performance of these funds (which can be expected to differ considerably depending on the
portfolio of each fund). However, data published on the Premium Pension Authority’s website (http://
www.ppm.nu/) suggest that the latest market values of funds (15 September 2002) are well below the
average value at which they were purchased by pension savers.

(2003/C 52 E/230)

WRITTEN QUESTION P-2737/02

by Torben Lund (PSE) to the Commission

(23 September 2002)

Subject: Limit values for GMOs and sloppy legislation

On 3 July 2002, Parliament adopted its first reading of two proposals for directives on, respectively, the
traceability of GMO materials and labelling of GMO-treated food and feed. With regard to food labelling, a
content limit value of 0,5 % for authorised GMOs was adopted by a large majority in Parliament. The
Commission is now apparently drafting a proposal on seed grain.
limit values for GMO
contamination in conventional seed grain of between 0,3 % and 0,7 % are being proposed, which do not
accord with Parliament’s decision of 3 July 2002.

In it,

In this connection, can the Commission say why it is not proposing limit values which are in keeping with
Parliament’s decision, possibly with a reference to Parliament’s final decision, so that consumers and
farmers are not confused and misled? What does this proposal mean in the light of the proposals voted on
by Parliament on 3 July 2002? How and, possibly, when is Parliament going to be involved?