Sweden’s biggest pension fund, still in limbo due to official probes into bad investments, fired its chief actuary for “inappropriate” criticism of the watchdog last month – and has now been handed an SEK1.5m (136,000) lawsuit for unlawful dismissal.
Anders Munk, chief actuary at Alecta since 2017, was dismissed by the SEK1.35trn occupational pension fund in September for his behaviour in levelling criticism at the Swedish Financial Supervisory Authority (Finansinpektionen, FI).
Munk, who has been a chief actuary at large Swedish pension funds for the last 10 years, confirmed to IPE that he has filed a lawsuit with the Attunda District Court in Sweden, seeking compensation for what he considers to be an unlawful dismissal.
Describing the background to his dismissal, Munk said he had submitted a formal whistleblower report to FI about “how certain senior officials at the authority were acting in ways that, in my view, conflicted with fundamental principles of Swedish administrative law – not about the authority’s supervisory decisions or its stance in specific cases.”
“The report was submitted in good faith, under the Swedish Whistleblower Act and the EU Directive, and clearly aimed at protecting the public interest and the rule of law,” he said, adding that Alecta initiated a process that led to his dismissal shortly after that.
Munk said: “I maintain that this constituted a retaliatory measure linked to the whistleblowing, which is prohibited under both Swedish and...
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