The best pension system in the world is facing problems due to excess money
Bloomberg: Icelandic pension funds want to invest more in foreign markets – for excess funds. So much money has accumulated in it that there is nowhere to invest it, writes Bloomberg. Icelandic pension funds hold twice as much assets as the country's economy, so the government is considering buying more securities on foreign stock markets. According to the current legislation, the share of foreign holdings in the assets of Icelandic pension funds cannot exceed 50 percent. Icelandic Finance Minister Bjarni Benediktsson said that citizens' retirement savings amount to 6.4 trillion kronor ($ 49 billion). “Of course, we cannot limit all investment opportunities to the domestic market,” the minister said. In 2020, Icelandic pension funds increased their share of their assets in foreign markets to 35 percent – 11 percent more than in 2010. Some funds approached the domestic limits for foreign investments and were forced to stop investing. In this