Consequently, the individual citizen's risk in relation to the size of future pension disbursements is diversified, which makes the system robust. 2  BIS Review 123/2006  Pension savings have boomed throughout the 1990s and into the new millennium.
It all started with the collective bargaining in 1991, when the two sides of industry agreed that 0.9 per cent of wages should be paid into a pension scheme. Wage earners were to pay one third, while employers were to pay two thirds. Since then we have seen a continuous increase in pension contributions in connection with subsequent collective bargaining.