IconPension covers 

    Retirement pension

    Financial security for as long as you live, no matter how old you live to be.

    A lifelong retirement pension provides income for life, no matter how old you live to be. You do not have to worry about if you have enough savings in a time with increasing longevity.

    If you want a progressive withdrawal from the labour market, you have the possibility of choosing partial retirement. You can also choose a progressive payment of your pension benefits even though you are no longer working. This way you can optimise your income profile if you have several pension schemes, or you can avoid a possible set off against your early retirement benefits etc.

    If you want to pay single contributions, you can read more here.

    If you want to pay monthly contributions or increase the contribution payment, please contact us

    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 here


    If you have a pension scheme in other companies or banks, you can log on to PensionsInfo. When you have pension schemes in several companies, you should be aware that all pension benefits are not necessarily payable at the same retirement 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

    You can read about the rules on contribution payments here

    The monthly pension benefits are taxed as personal income, i.e. they are not subject to payment of labour market contributions (8 percent).

    The deposit interest rate is the interest rate paid to the savings for lifelong pension (pension scheme with regular payments). The deposit interest rate is determined annually. Read more about the deposit interest rate here


    There are 4 factors which impact on the development of your pension savings – both during the savings and payment period. The 4 factors are:

    • Costs
    • Savings
    • Longevity
    • Deposit interest rate


    The most significant factors for adjustment of the pension are changes in longevity and the development of the deposit interest rate. You can read more here

    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

    Retirement sum

    You may have the possibility of having a part of your retirement pension paid as a lump sum. This is called a retirement sum. On payment of the retirement pension benefits, the size of the monthly benefits is reduced, and this will also apply to the insurances, including a spouse’s or cohabitant’s pension. On Min pension, you can see if you are entitled to a retirement sum and the size of it as well as the annual retirement pension with and without a retirement sum.


    You can have the retirement sum paid when you reach age 60 and no later than at the same time as payment of the retirement pension benefits. You can have the retirement sum paid even though you still work and pay contributions to P+.


    The retirement sum is paid as a lump sum. Payment is subject to a 40 percent taxation. You should be aware that the retirement sum only can be paid once. If you choose not to have the entire retirement sum paid, you cannot have the remaining amount of the sum paid at a later time - it will be included in the retirement pension benefits.

     

    Supplement to un-married members under P+ Regulations 1983, former DIP Regulations 1

    If you are unmarried at the time of retirement, and you do not have a separated or divorced spouse entitled to spouse’s pension benefits, a supplement is paid to your pension benefits. The supplement is a compensation for you having paid contributions to a spouse’s pension which never becomes payable. The supplement equals 25 percent of the retirement pension benefits.


    The increase does not apply to a possible children’s pension.

    If you have or have had a pension scheme under P+ Regulations 1973, former JØP Regulations 1 or P+ Regulations 2007, former JØP Regulations 2, you may be entitled to having a part of your retirement pension benefits paid as a lump sum. This is called a supplementary lump sum. On payment of retirement pension benefits, the size of the monthly benefits is reduced, and this also applies to the insurances, including the spouse’s or cohabitant’s pension benefits. On Min pension you can see if you are entitled to the supplementary lump sum and the size of it as well as the annual retirement pension benefits with and without payment of the supplementary lump sum.


    You can have the supplementary lump sum paid when you reach age 60 or at the same time as payment of the retirement pension benefits at the latest. You can have the supplementary lump sum paid even though you still work and pay pension contributions to P+.


    The supplementary lump sum is subject to a 40 percent taxation. You should be aware that the supplementary lump sum only can be paid once. If you choose not to have the entire sum paid, you cannot have the remaining amount of the sum paid at a later time - it is included in the retirement pension benefits.

    You can find more information 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 your pension benefits here