Copenhagen-based Sampension has reached agreement with its members to move from firm to intentional guarantees to avoid facing capital charges under Solvency II. According to a senior figure in the Danish Insurance Association, this stance is set to be followed by other schemes.
Sampension is a €13 billion (£10.7 billion) fund which provides pensions for nearly 300,000 employees spread across the local and national government. It currently offers members guarantees ranging from 1.8% to 4.5%
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