Anne Kari Haug
28 January 2015
Read the article in Norwegian here
PA financial services expert, Knut Erlend Vik, is quoted in an article in Dagens Næringsliv discussing the implications of the pension scheme LO – Norway’s biggest trade union – is advocating.
The article explains how LO argues the scheme will result in lower administrative and management costs. However, a new report by Finance Norway – prepared by PA – concludes that the introduction of collective contractual arrangements may reduce competition and increase costs.
The report also compares the costs in the Norwegian pension market with those of Sweden and Denmark.
Knut Erland says: “We believe that if you remove an element of competition, it will lead to increased and unnecessary costs.”