The Pension Plan
The pension plan is based on a fully-funded defined contribution system. Pension contributions are in the range of 12.0 to 18.0 per cent of the wages and are paid according to the stipulations of the collective agreements with the employers paying 2/3 of the contributions and the employees paying 1/3.
Pension Principles
The schemes are industry-wide and multi-company based with no health examinations on entrance. This secures portability and thereby supports a mobile labour force.
The Pension Package
The pension package vary according to sector. But all pension packages include:
Pension savings:
- Life-long pensions (annuity)
- Pensions in instalments (typically 10 years)
Insurances:
- Death
- Disability
- Critical illness
- Health Care (in some instancies)
Within the pension scheme members have a range of possibilities to adjust the levels of insurances and how the funds are invested. Log on to your own pension account to learn more (in Danish).
Further Information about your Pension Plan