2010 Pensions in Sweden Predicted Lower than Expected, No EU Crisis Money
New estimates from Swedish social insurance companies say that the Swedish pensioners will be receiving even less money than earlier predicted next year because of the slump in the economy and the poor results on the stock market for invested pension funds.
Instead of receiving 65 to 68 % of their former salaries, the nation’s pensioners will probably get only 59% next year.
This comes after a stormy debate in this Nordic nation over top bosses in the banking and insurance and other firms giving themselves huge bonuses and extra million-dollar retirement benefits even though their companies have suffered huge losses and while the pensioners will have to tighten their belts and even more than they had planned.
In other bad economic news, it seems Sweden has already run out of money to crisis-relief payments to the European Union handed out to local governments, companies and organizations unable to pay their bills.
The EU’s social fund for emergency payment has to be matched by the same contributions from the receiver country - but Sweden’s payments to this fund for 2009 have already run out in this month of April.