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Insurance

Your PensionDanmark plan may include insurance against critical illness, flexible jobs, disability pension and death.

It is important that you are insured for the right amount, so that you and your family receive the necessary economic assistance if anything happens.

For that reason, you can choose how much you want to receive under the various insurance policies.

Unemployment

If you become unemployed

If you lose your job, you will automatically retain your policies with us for one year after your employer ceases contributing to your pension. You can extend your policies for four more years.

If you have not found another job or if you have been ill for a long time, we recommend that you extend your policies.

How are you insured when the contributions lapse?

How are you insured when the contributions lapse?

If you become unemployed, ill or take leave
When you stop working, your insurance policies will continue for one year. You can choose to keep your policies for an additional four years – i.e. a total of five years.

If you are ill, take leave or do not have another labour market pension, we recommend that you retain your insurance coverage for as long as possible. Payment for the policies will be deducted from your savings.

When are you not insured?
Your policies for disability pension and critical illness insurance do not cover conditions that already existed when you joined PensionDanmark if your employer has paid contributions for less than 12 months within the past four years.

If you extend your policies with us and also have insurance cover with an alternative pension company, you cannot receive funds from the insurance in the event of disability pension and critical illnesses.

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Call us on: +45 7012 1330

Weekdays 8.00 - 21.00

Critical illness

If you are diagnosed with a critical illness

Your critical illness insurance policy will provide you with a tax-free sum if you are diagnosed with one of the illnesses included in the insurance policy. This can be for example cancer, thrombosis or sclerosis.

What will you be paid?

What will you be paid?

Most members have an insurance policy in the event of critical illness of DKK 100,000, which is paid as a tax-free lump sum.

If you log in, you can see how you are insured. You can also change how much you receive in the event of a critical illness. 

How long will the insurance policy remain in effect?
The insurance policy will remain in effect until you begin to have all of your pension disbursed, or up to five years after your contributions has stopped.

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Weekdays 8.00 - 21.00

Which illnesses are covered?

Which illnesses are covered?

You may be eligible for a lump sum if you are diagnosed with:

  • AIDS
  • Alzheimer's disease
  • Blindness
  • Deafness
  • Tick bites - consequences of borrelia infection (TBE) in the nervous system
  • Burns, frostbite, corrosive injuries - major
  • Brain haemorrhage, cerebral thrombosis, apoplexy
  • Brain or subarachnoid meningitis - consequences
  • Heart valve disease – heart valve surgery, infection in left heart valve
  • Heart disease – coronary thrombosis, dilated cardiomyopathy, calcification of coronary artery and life-threatening heart rhythm disturbance with insertion of ICD.
  • Aortic disease
  • Malignant tumour
  • Motor neurone disease (MND)
  • Muscle atrophy – certain types, AIDP – acute
  • Kidney failure – chronic or kidney transplant
  • Organ transplant - heart, lung(s), liver or pancreas
  • Parkinson's disease and Lewy Body Dementia
  • Brain aneurism – surgical expansion
  • Scleroderma - advanced or Wegener granulomatosis
  • Multiple sclerosis or disseminated and Neuromyelitis optica
  • Tumours in brain and spinal cord - certain benign

We also stipulate certain requirements in the diagnosis Call us on +45 7012 1335 if you are in doubt.

You can receive several lump sums
Even if you have received disbursement for one illness, you can receive further sums if you have another illness. A minimum of six months must pass between diagnoses, and you can only receive a lump sum once for the same type of illness.

Håndværker guider kran.

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How to proceed, if you are diagnosed with a critical illness

How to proceed, if you are diagnosed with a critical illness

If you get one of the illnesses listed, you should start by checking whether you have critical illness insurance. Do this by logging in on this page.

If you have this insurance, you should apply to receive the funds.

Submit your papers too and avoid delays
You will receive a rapid reply if you send us your treatment plan (behandlingsoversigt) and your medical record when you apply.

If the documents are not submitted, up to a month may pass before you receive a reply.

If you are entitled to receive the funds, we will disburse them to your Nemkonto.

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Weekdays 8.00 - 21.00

Free membership of patient associations

Free membership of patient associations

In the event of critical illness, we will give you one year's free membership of a patient's association. We work with:

  • Hjernesagen (brain damage)
  • The Danish Heart Foundation
  • The Danish Cancer Society
  • The Danish Multiple Sclerosis Society
  • Parkinsonforeningen (Parkinson's disease)
  • The Danish Rheumatism Association

As a member of a patient association you will receive support in handling your illness and in returning to a normal family and work life as quickly as possible.

Æbler i kurv.

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When is the insurance policy not paid out?

When is the insurance policy not paid out?

You cannot receive the sum if:

  • you have received a diagnosis of the illness before the insurance policy was taken out
  • the illness occurred before you became a member of PensionDanmark, and if your employer has paid pension contributions for less than 12 months within the last four years.
  • you have already received a lump sum within the last 6 months
  • you have previously received a lump sum for the same type of illness
  • you were diagnosed with the illness after your insurance policy no longer applied
  • you have chosen to receive disbursement of the whole of your retirement pension
  • you die after the time of diagnosis and before we have received your written application for disbursement
  • you have received the diagnosis of the illness before this was included in the list of the illnesses covered by the policy
  • your illness is not included on the list of the illnesses covered by the policy
  • you started another labour market pension scheme after contributions had stopped

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Subsidised job

If you get a subsidised job

If you are employed in a subsidised job, your employer will not make full contributions to your pension scheme. But we will top up the monthly contributions so that you save up just as much as previously. In that way, you are ensured a full pension even though your employer contributes less. We call this savings protection in the event of a subsidised job

Savings protection in the event of a subsidised job

Savings protection in the event of a subsidised job

If you have started work in a subsidised job after 1 January 2013 and you are covered by a disability pension scheme with us, you can have a flexible job savings guarantee. This will provide larger pension savings.

Who pays what?
Your employer only pays pension contributions for the hours that you work. The municipality does not pay pension contributions on the flex wage subsidy you receive from them. We pay the extra sum so that you still save just as much money for your pension as if you had worked the same number of hours as before.

If you leave your subsidised job, the savings guarantee will end. If you get a new subsidised job you must apply for savings guarantee again.

How to apply
You must fill out an application form and submit it to us 

If you fulfil the terms and conditions for a savings guarantee, we will place the funds in your pension scheme.

If you were employed in a subsidised job before 1 January 2013
If you started your subsidised job before this date, your employer will pay full pension contributions and therefore you cannot receive a savings guarantee.

How long will the insurance remain in effect?
The insurance will remain in effect until three years before you reach state pension age or up to five years after the disbursements have stopped. Read more here

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Weekdays 8.00 - 21.00

Who is not covered?

Who is not covered?

Were you employed in a subsidised job when you joined PensionDanmark?
If you were in a subsidised job when you became a member of PensionDanmark, you are not covered by the insurance for disability pension and subsidised jobs. For this reason, you are not eligible for savings protection for people in subsidised jobs 

If you were employed in a subsidised job before 1 January 2013
If you started your subsidised job before January 2013, your employer will pay full pension contributions and therefore you are not eligible for savings protection.
 
Retain your policies in previous pension companies
If you had a subsidised job when you joined PensionDanmark, and if you still  have policies in your previous pension company, it would be best for you to retain them to ensure that you have the best possible cover. Talk to your employer about contributing to your previous pension company.
 
If you are in doubt about what is best for you, call us on +45 7012 1330. We will help you to find the best solution.

To håndværkere og en bunke skilte.

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early retirement pension

If you are granted an early retirement pension

You will receive a tax-free lump sum of DKK 100,000 and receive a sum every month if you are awarded an early retirement pension. This provides a better opportunity to maintain your lifestyle even if your income decreases.

We will also pay an amount into your pension savings every month.

What will you be paid?

What will you be paid?

Most members receive a tax-free lump sum of DKK 100,000, and a monthly disbursement of DKK 4,500. The disbursements continue until three years before you reach retirement age or you no longer receive a state disability pension. 

Log in and you can see how you are insured. You can also change how much you are disbursed if awarded a disability pension.

How long will the insurance remain in effect?
The insurance will remain in effect until three years before you reach retirement age or up to five years after the disbursements have lapsed. Read more here

 

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You will still save for your pension

You will still save for your pension

Your savings in PensionDanmark
When you receive an early retirement pension, we also ensure that your pension savings with us continue to grow. We will pay an amount into your pension savings every month, without you having to pay anything.

The sum that we put in is calculated based on the average of your contributions in the last year. In this way, your pension will be just as large as if you had continued to work.

The Supplementary Labour Market Pension Scheme for Early Retirement Pensioners (SUPP)
You will automatically be enrolled in the supplementary labour market pension scheme. This is a special pension savings scheme for those with an early retirement pension who are unable to save via employment.

One of the advantages of the Supplementary Workplace Pension is that you only have to pay in DKK 171 per month. The amount is deducted from your early retirement pension before tax. Udbetaling Danmark pays the remaining DKK 342.

Read more about SUPP at borger.dk.

To arbejdere i varehus.

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What to do if you are in a vocational rehabilitation programme

What to do if you are in a vocational rehabilitation programme

You can have half of your lump sum on early retirement disbursed if you have been in a vocational rehabilitation programme for more than one year.

If you are awarded a disability pension later, you will receive the other half of your lump sum payout.

If you return to the labour market after your vocational rehabilitation programme, you will not have to pay the money back.

When you are logged in, you can see how you are insured. You can also apply to have the money disbursed.

If you are entitled to receive the funds, we will disburse them to your NemKonto/Easy Account.

Write to us

E-mail

Call us on: +45 7012 1335

Weekdays 8.00 - 21.00

What to do if you are awarded a state disability pension

What to do if you are awarded a state disability pension

If you are awarded a disability pension, you can receive extra money from your insurance policy at PensionDanmark.

You must apply for the extra money
Here you can apply to have your lump sum disbursed and begin to receive the ongoing amount each month.

Same good savings
Once you have applied for the money, we will automatically begin putting extra funds into your pension savings account. This ensures that you have a normal savings account even if you do not work for a period.

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Weekdays 8.00 - 21.00

You can retain your health scheme

You can retain your health scheme

When you are awarded an early retirement pension, you can opt to retain your health scheme.

For only DKK 30 a month, you can book appointments for treatment from e.g. a physiotherapist or chiropractor. You will also have rapid access to an assessment if you become ill.

You do not have to pay for this out of your own pocket because we deduct the amount from your savings. You can deregister from the scheme whenever you like.

To kvinder ordner blomster.

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Weekdays 8.00 - 21.00

Vocational rehabilitation sum

If you are in a vocational rehabilitation programme

You can have half of your lump sum on early retirement disbursed if you have been in the vocational rehabilitation programme for more than one year.

This might allow you better opportunities to maintain your lifestyle even though your income has decreased.

What will you get disbursed?

What will you get disbursed?

Once you have been in a vocational rehabilitation programme for 12 month, you can be paid half of the amount you can receive from early retirement.

Most people can receive 100,000 kroner if they are awarded a public early retirement pension. Therefore, the amount of resources will be 50,000 kroner.

When you are logged in, you can see what you can get paid.

Call us: 7012 1330

Hverdage 8 - 21

What to do if you are in a vocational rehabilitation programme

What to do if you are in a vocational rehabilitation programme

You can have half of your lump sum on early retirement disbursed if you have been in a vocational rehabilitation programme for more than one year.

If you are awarded a disability pension later, you will receive the other half of your lump sum payout.

If you return to the labour market after your vocational rehabilitation programme, you will not have to pay the money back.

When you are logged in, you can see how you are insured. You can also apply to have the money disbursed.

If you are entitled to receive the funds, we will disburse them to your NemKonto/Easy Account.

Write to us

E-mail

Call us on: +45 7012 1335

Weekdays 8.00 - 21.00

Death

When you die

If you die before your pension is disbursed, your next of kin will receive your savings.

Your next of kin are guaranteed a minimum sum
If your savings are small, you have insurance coverage to ensure that your next of kin will receive a minimum amount, typically DKK 500,000.

How much will your surviving next of kin receive?

How much will your surviving next of kin receive?

Most people have a tax-free minimum amount of DKK 500,000.

Log in and you can see how you are insured. And you can change how much your next of kin should receive.

How long will the insurance remain in effect?
The insurance will remain in effect until you reach retirement age, or up to five years after the contributions have been discontinued. Read more here

What is a minimum amount?
If, for example, you have a minimum amount of DKK 500,000 and leave savings of DKK 300,000 after tax, your insurance will top up the amount with an additional DKK 200,000. Then your next of kin will receive DKK 500,000 after tax.

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Who should receive the funds in the event of your death?

Who should receive the funds in the event of your death?

You can choose who will receive the money from your pension savings when you die. It will typically go to your  next of kin unless you have designated someone else.

Your next of kin are in the order listed:

  1. Your spouse
  2. Your cohabitant if you have lived together for at least two years or you have children together
  3. Your heirs of the body (children, grandchildren etc.)
  4. Beneficiaries under a will
  5. Beneficiaries under the intestacy rules

Log in to see and change who will receive the money from your pension savings when you die.

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If you die after retirement

If you die after retirement

Your annuity pension
If all the instalments of your annuity pension have not been disbursed when you die, the remainder of your annuity pension will be disbursed to your next of kin as a lump sum.

Your lifetime pension
Your lifetime pension has a pension guarantee. This means that if you die within the first 10 years after disbursement has started, your next of kin will receive the remainder of the funds you would have had during those ten years. The funds will be disbursed in one lump sum.

You can opt out of the pension guarantee. This could be advantageous if, for example, you are single and have no children. In which case, you will receive more funds yourself. 

Your retirement account
If you have not received all the funds from your retirement account when you die, your next of kin will receive the remainder of the funds. 

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Information to next of kin

Information to next of kin

If you are to receive disbursement from us, you do not need to provide your account number. The pension will be paid into your NemKonto account.

Recipient of funds
The deceased may have decided themselves who is to receive the funds upon their death.

If The deceased has not decided who will be paid the funds, we will pay them out to the "next of kin". Next of kin are in the order listed:

  1. Spouse
  2. Cohabitant
  3. Children and grandchildren (heirs of the body)
  4. Beneficiary under a will
  5. Beneficiaries under the intestacy rules

Inheritance tax
Inheritance tax is a tax that must be paid to the state on the funds you leave behind.

If the funds go to a spouse/registered partner or cohabitant, no inheritance tax is payable.

If the funds go to anyone else other than the spouse, we have to deduct inheritance tax. The amount of inheritance tax is dependent on the type of relationship the recipient had to the deceased.

Ældre dame ved plante i køkken.

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