Pressens Pensionskassa, the Stockholm-based pension fund for the press, is being forced to transform itself in to wider-reaching fund for the whole media industry.

The move comes as white collar workers receive more freedom over retirement savings, and competition will increase dramatically in Sweden, said Tomas Lindstrand, managing director for the press fund. Pressens Pensionskassa has assets totalling Skr6bn (€724m) and covers more than 20,000 members.