Keep the insurance cover without making contributions
You can maintain your insurance cover for up to one year without making contributions to your pension scheme if the value of your pension scheme is so high that it covers the costs of your insurance cover.
What will happen to your insurance cover?
The following non-tax-deductible cover ceases when you maintain your pension scheme without making contributions to the scheme.
- Cover for certain critical illnesses
- Disability lump sum benefit
- Critical illness for children
- Children's lump sum
If you have other non-tax-deductible insurance covers (e.g. on death), they will continue with unchanged benefits but will be changed into tax-deductible cover. Please note that the benefits will be reduced by income tax or other taxes and that the benefits will therefore be considerably lower.
What is the price of your insurance cover?
The price of your insurance cover might change. If so, it will in most cases be higher. In order for us to state the correct price of your insurance cover, we need to know your main occupation and your employer’s company registration number. Your main occupation is the occupation from which you earn most of your income.
If you want to know the price of your insurance cover, please do not hesitate to call us on +45 70 33 99 99 or write to us.
What costs will be added to your pension scheme?
Various costs will be added to your pension scheme when you maintain your pension scheme with insurance cover but without making contributions.
Costs and fees apply from 1 january 2020.
- Administration fee: DKK 61 per month
Savings cost:
Savings cost depends on your pension scheme being part of an employment pension scheme or it is a private pensions scheme. In general the cost are unchanged if you keep your insurance cover without making contributions.
If your former pension scheme was through an employer, you can see the typical costs here:
|
Of the savings, we deduct: |
The minimum annual costs are |
The maximum annual costs are |
|
|
DKK |
DKK |
||
|
VækstPension |
0 |
0 |
0 |
|
LinkPension |
0,3 |
425 |
2.360 |
|
HøjrentePension |
0 |
0 |
0 |
|
DinKapital |
- |
- |
- |
The amount of costs, including fees, is based on the rates in force as reported to the Danish Financial Supervisory Authority.
Do you need to provide new health information?
You need to submit new health information if at some point you want to start making contributions to your pension scheme again. However, this only applies if you have not provided the information by the end of the period during which your insurance cover has been maintained.
If you need to submit new health information, there is a risk that the terms and conditions of your insurance cover might not be the same as in your current agreement. This may have a significant impact on you if you do not have insurance cover elsewhere. Especially if you are ill or your health condition has changed.
Do you have insurance cover with other pension companies?
If you decide to continue the scheme with us while taking out similar insurance with another company, you need to check whether you are over-insured. If you have pension schemes with other companies, you can save administration costs by combining them. Call or write us for more information.
Notify us
If you want to keep your insurance cover without making contributions to the pension scheme, please fill in the form you have received from us by letter after your contributions stopped.
Please do not hesitate to call us on +45 70 33 99 99 or write to us if you have any questions.