"2014 was a record year for PensionDanmark, evidenced by returns of over 16 billion DKK, marked increase in member contributions and a total balance amounting to 170 billion DKK," says CEO, Torben Möger Pedersen, PensionDanmark.
"This year's investment returns of over 16 billion DKK have for the typical member ensured an overall return of 70-90 pct. on his savings, since the financial crisis gained momentum in 2009," says Torben Möger Pedersen.
Contributions in 2014 totaled 12.5 billion DKK, which marks an increase of 16 % compared to 2013. The record-high surge in contributions is largely caused by a number of large transfers of pension deposits from other companies, as members have combined their pensions in PensionDanmark.
PensionDanmark's balance also grew significantly in 2014 amounting to 171 billion DKK in total, which is an increase of 12 % compared to the previous year. The cur-rent number of members is now 662.000 with an intake of 20.000 members since 2013.
2014 also marked the year PensionDanmark applied a new insurance-service plat-form.
"This gives us a competitive service-profile, as we are able to counsel members after their needs and on their preferred platform. It simultaneously allows us to lower the administrative fees for members to 336 DKK in 2015. We have thereby lowered the fees by 15 % in two years," says Torben Möger Pedersen.
Read the Annual Report here.
