Your pension scheme may include insurance cover for critical illness, the award of a subsidised flexi-job, the award of early or senior retirement pension, and death.
It is important that you have the right amounts of insurance coverage so that you and your family are provided for if anything should happen to you.
To that end, you can choose the amount you want to receive in insurance benefits.
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.
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.
If you get a subsidised job
If you become employed in a subsidised flexi-job, your employer will only make pension contributions for the hours you work.
But your savings will keep growing as we will cover the shortfall at the end of the month to make sure the same amount is paid into your savings account as before you started the subsidised flexi-job. We call this savings balance protection on subsidised flexi-job.
Early retirement or senior pension
If you retire on early retirement or senior pension
Your insurance cover on early retirement or senior pension
Most members have insurance policies with us that cover if they retire on early retirement or senior pension.
Under such insurance, you can:
- receive a monthly amount in addition to the public rate
- ensure that your pension savings keep growing – because we make monthly contributions
- possibly receive a tax-free lump sum if you retire on anticipatory pension. This depends on your age.
Sign in to see your insurance covers and what applies to you. You can also adjust the amounts to ensure they match your needs.
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.
When you die
If you die before you receive the full amount of your pension savings, your savings will go to your beneficiaries after deduction of tax.
Your beneficiaries are guaranteed a minimum amount
If the balance of your savings is low and you have cover on death, we will make a top-up contribution so that your beneficiaries receive a minimum amount. Unless you have set a different amount, the minimum amount is typically DKK 500,000.
If your savings after tax exceed the minimum amount, we will only disburse your savings.
Sign in to see your minimum amount.