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Business

Pension fund in investment scandal

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August 11th, 2014


This article is more than 10 years old.

PKA administers the pension savings of 260,000 Danes

A number of groups within the health sector have over a billion kroner on the line in an investment scandal that is festering at the pension fund PKA, according to Jyllands-Posten newspaper.

PKA administers the pension savings of 260,000 Danes and the company has invested heavily – particularly with the pension funds of nurses – in the recycling company Genan, which is expected to reveal a considerable loss in the coming days.

“The situation is really tough, but I have complete faith that the PKA management is battling to find the best possible solution,” Grete Christensen, the head of the nurses advocacy association Dansk Sygeplejeråd and deputy head of PKA, told Jyllands-Posten.

READ MORE: Tyre recycling giant aiming for the ‘Michelin’ stars

Genan denies reports
Genan – which makes money recycling tyres – has been reported to be on the brink of collapse while majority stockholders and banks try to come up with a contingency plan.

Bent A Nielsen, a majority stockholder, has denied that the company is teetering on the edge of disaster.

PKA members have total pension savings of 195 billion kroner.


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A survey carried out by Megafon for TV2 has found that 71 percent of parents have handed over children to daycare in spite of them being sick.

Moreover, 21 percent of those surveyed admitted to medicating their kids with paracetamol, such as Panodil, before sending them to school.

The FOLA parents’ organisation is shocked by the findings.

“I think it is absolutely crazy. It simply cannot be that a child goes to school sick and plays with lots of other children. Then we are faced with the fact that they will infect the whole institution,” said FOLA chair Signe Nielsen.

Pill pushers
At the Børnehuset daycare institution in Silkeborg a meeting was called where parents were implored not to bring their sick children to school.

At Børnehuset there are fears that parents prefer to pack their kids off with a pill without informing teachers.

“We occasionally have children who that they have had a pill for breakfast,” said headteacher Susanne Bødker. “You might think that it is a Panodil more than a vitamin pill, if it is a child who has just been sick, for example.”

Parents sick and tired
Parents, when confronted, often cite pressure at work as a reason for not being able to stay at home with their children.

Many declare that they simply cannot take another day off, as they are afraid of being fired.

Allan Randrup Thomsen, a professor of virology at KU, has heavily criticised the parents’ actions, describing the current situation as a “vicious circle”.

“It promotes the spread of viruses, and it adds momentum to a cycle where parents are pressured by high levels of sick-leave. If they then choose to send the children to daycare while they are still recovering, they keep the epidemic going in daycares, and this in turn puts a greater burden on the parents.”