Danes show increased demand for digital pension solutions amid Covid-19 – PFA

Three quarters (75 per cent) of Danish savers would find it 'positive or very positive' if their pension company provided a digital solution allowing them to easily adjust their funds based on their needs, according to a survey for PFA.

The firm argued that this was part of a broader trend towards digital consulting, with 53 per cent of respondents stating that the Covid-19 crisis had to some extent caused them to address activities digitally, such as buying goods or getting advice.

PFA consumer economist, Carsten Holdum, commented: “We are also noticing the changing digital habits and the increased demand for digital solutions among customers. And that is why we are now putting further turbo on the digital advice to customers, which will complement the traditional physical advice.”

PFA has boosted its offering with the announcement of a new digital consulting solution, that will continuously screen their customers pension schemes in relation to PFA’s recommendations.

The firm stated that often, where a customer deviates from a specific recommendation, it would be likely be in the member's favour for them to adjust their fund, which they will be able to do digitally through this service.

Members will also be notified of these recommendations when accessing digital services, such as logging in to the PFA website from home.

Holdum adds: “Digital consulting will solve one of our customers' greatest needs, namely a quick clarification on whether to do something.

"Then you have the opportunity to do the easy things yourself and book a counselling session when it is more complicated. Overall, retirement is becoming much easier to deal with, and it is needed by many."

The service is expected to be operational during the second half of the year, and will complement the “traditional physical consultancy” already in place at PFA.

The survey was conducted by Kantar Gallup for PFA.

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