PensionDanmark is a not-for-profit labour market pension fund established in 1993. It offers defined contribution pension, insurance and health care products on the basis of collective agreements covering more than 630,000 individuals employed in 27,000 companies within the private and public sector. Contribution rates range from 12.0 to 18.0 per cent of wages with the employers paying 2/3 of the contributions and the employees paying 1/3.
Since 2006 the company has also collected contributions for financing life-long-learning initiatives.
In 2012, premiums of EUR 1.4bn made PensionDanmark the fourth largest pension company in Denmark. Assets under management had grown to EUR 18.5bn at the end of 2012 making PensionDanmark the seventh largest pension fund in Denmark on that measure.
PensionDanmark, key figures (end of 2012)
PensionDanmark is organized as a life-insurance company that is co-owned by labour unions and employers organisations. The board consists of representatives from labour unions and employers organisations as well as an independent member with special knowledge within accounting and financials.
As a labour-market-related life-insurance limited company PensionDanmark is prohibited from paying dividends to the owners.
PensionDanmark is under the supervision of the Danish FSA.
The board has chosen Deloitte as the external auditor.
Members by Sector
PensionDanmark cover blue-collar and lower-wage white collar workers within a number of industries. A breakdown of active members by sector is shown below.
Active members by sector