IconPension covers 

    Endowment policy

    Flexibility to have a lump sum paid in instalments. For members of P+ and P+, former DIP.

    An endowment policy provides flexibility to have a lump sum paid, and it is a good supplement to the lifelong retirement pension. The endowment policy can be paid in instalments which gives you the flexibility to have an optional amount paid. In P+ the minimum payment is DKK 100,000, and you can receive one instalment per calendar year.

    If you want a progressive withdrawal from the labour market, you have the possibility of choosing a partial retirement, e.g. by having the lifelong retirement pension paid and postpone the endowment policy or vice versa. 

    You can also choose a progressive payment of your pension benefits even though you are no longer active on the labour market. This way you can optimise your income profile if you have several pension schemes.

    You can see your pension covers on Min pension. Here you can also see when they can be paid and get a pension forecast at different ages. If you are paying contributions, the pension forecast presupposes that the payment is continued until the given age. You can find Assumptions for calculation of the pensions here


    If you have pension schemes in other companies or banks, you can log on to PensionsInfo. When you have a pension scheme in several companies, you must be aware that the pension benefits are not necessarily payable at the same age. Normally, it appears from PensionsInfo when the pension benefits can be paid.


    You can read more about when the pension benefits can be paid here

    In the event of death, your savings are paid to the beneficiaries. This applies both if you die during the payment period and before payment has started.

    You can read more about who receives the payment here

    You cannot make contribution payments to an endowment policy.

    If you have not chosen an investment profile, your savings are automatically placed in the investment profile P+ Balance. You can choose between 3 investment profiles. You can read more here


    If you choose to change the investment profile, this will also apply to a possible annuity certain. Change of investment profile must be done in writing, and you can do it here. Changing the investment profile is free of charge. If we receive your request for a change no later than at the 15. of the month, it will take effect on the 1. of the following month. Otherwise, it will take effect on the 1. of the next month.


    When we have registered your change of investment profile, you will get a receipt. This is your documentation of your choice being registered correctly and in time. You should check that the registration is consistent with your choice and contact us if there is an inconsistency.


    If you do not get a receipt, please contact us as it may imply that we have not received your request for a change of investment profile. If your receipt bounces back, your change will not be completed and you will continue having the previous investment profile.

    Payment is subject to a 40 percent taxation.

    Payment to a spouse or a cohabitant in a registered partnership is not subject to an estate tax. If payment is made to children and/or a cohabitant through more than 2 years, the estate tax accounts for 15 percent. On payment to others than the above-mentioned, the estate tax accounts for 36,25 percent (estate tax and supplementary estate tax).

    You can withdraw the endowment policy when you have reached your retirement age at the earliest, and it must be paid no later than 20 years later. The endowment policy can be paid in instalments which gives you flexibility in planning your life as a pensioner.

    We have made a list of useful information when you start planning your life as a full-time or part-time pensioner. Read more here

    You can read more in the Regulations and on Min pension

    You must contact us approx. 2 months before you want to retire and start payment of your pension savings.

    You can apply for payment of pension here, or you can contact us