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Over 350,000 Pensioners Get Reduced Payment for March

Published onsdag 4 februari 2009 kl 13.49

Around 350,000 Swedish pensioners got a shock on Wednesday when AMF Pension announced they were cutting their pension return for March by eight percent.

The company says that a falling stock market means they have to cut back on how much pension they pay out in order to guarantee payments in the long term.

This decision will also affect savers, who will see a saving of 10,000 US dollars reduced to 92,000.

AMF Pension is one of the biggest pension companies in Sweden, with two and a half million accounts, paid into by both employers and by individual savers.

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