Who gets your money when you die?

Your next of kin in order of priority are:   

• spouse 
• partner, if you have lived together for at least two years or if you have children together 
• children or grandchildren, i.e. your issue 
• any heirs named in your will 
• your heirs under the provisions of the Danish Inheritance Act (arveloven)

• Payouts in the event of death may involve savings and insurance.
• If you make changes here at pension.dk, the changes will apply to both your savings and your insurance.
• If you want different beneficiaries of your savings and insurance, please call us.
• We will pay out the savings and insurance to those you have chosen at the amounts that apply at the time of your death.
• Your savings can change, so you should always be aware of the amounts that apply to your savings and insurance.

Yes, you can choose one or more beneficiaries.

However, due to tax rules, you do not have a completely free choice. You can choose between the following:

• your spouse or partner
• your children or grandchildren
• your former spouse if you are separated or divorced.

Do you want your parents or siblings to benefit from your pension savings?

Special tax rules apply in relation to beneficiaries of your pension savings. If you want your parents, siblings or anyone else to benefit, please call us. We can then discuss your options.

Your partner will not benefit from your pension savings if you have stopped living together. In this case, your pension savings will be distributed to your next of kin, unless you have expressly chosen otherwise.

However, if one of you has moved into an institution, e.g. a nursing home or hospice, your partner will still receive the benefits when you die.

You typically have three savings accounts and your savings will be paid out to your beneficiaries as follows:    

Old-age savings 
If you have not received the full amount of your old-age savings, your beneficiaries will receive the remaining amount. The payout is tax free.   

Annuity pension  
If you have not received the full amount of your annuity pension, your beneficiaries will receive the remaining amount. This will be paid out as a lump sum. 

Lifetime pension
A pension insurance ensures that your savings are passed on to your beneficiaries when you pass away. Your beneficiaries will receive a single payout. The amount corresponds to the remaining savings if you pass away before the pension insurance expires. You can decide how many years the pension insurance should be valid, ranging from 0 to 22 years, depending on your age. 

Imagine you choose a pension insurance period of 20 years: 

You start receiving your pension payments but pass away after 11 years. 

Your pension insurance is valid for 20 years, meaning there are 9 years left of the chosen period. 

Your beneficiaries will receive the amount you would have received in pension for the next 9 years. 

The money will be paid out to your beneficiaries in a single lump sum.

Tax payable to the state and estate tax  
We deduct 40 percent tax payable to the state before an annuity pension or lifetime pension is paid out. If estate tax is due, this will also be deducted from all amounts. 

The full amount from your old-age savings, annuity pension and lifetime pension will be paid out to your beneficiaries as a one-off amount.

Tax payable to the state and estate tax  
We deduct 40 percent tax payable to the state before an annuity pension or lifetime pension is paid out. If estate tax is due, this will also be deducted from all amounts.