The pension fund for Danish teachers, Lærernes Pension, made a return of 9.3 per cent on its investments in 2025, it has revealed.

Publishing its full-year results, the pension fund said this figure equated to DKK 13.8bn. Despite a “major downturn” at the start of 2025 amid much “turmoil and upheaval”, the markets ended up in a reasonable position by the end of the year, Lærernes Pension stated.

Lærernes Pension chief executive, Karsten Kjellerup Kjeldsen, said: “I’ve been in the financial sector for many years, and some of the things we used to take for granted can no longer be relied upon.

“This places extra stringent demands on us to have the right strategy and capabilities in place, and this was confirmed last year, so I am very pleased with where we stand today.”

With 2026 also experiencing turmoil in the markets, due to the war in Iran, the pension fund said it has managed to navigate this sensibly and had a good start with a positive return.

Regarding its climate work, in 2025 Lærernes Pension had reduced the carbon footprint of its listed equities, corporate bonds and Danish property portfolio by 81 per cent compared with the start of 2020.

Its ambition is to achieve net-zero greenhouse gas emissions by 2050 at the latest. Its current progress means it has already exceeded its target for 2030.

As a result, the pension fund will review its short-term target this year.

In addition, Lærernes Pension made progress with its aim of increasing the proportion of climate- and environment-focused assets in its portfolio. By the end of 2025, these accounted for 11.8 per cent of its total investments, equivalent to just under DKK 22bn.

Its target is to increase this share to 15 per cent by 2030, at the latest.

“We are very pleased with our results so far.

"At the same time, in 2026 we will review our approach to how we can best support a genuine transition towards an economy that is consistent with the objectives of the Paris Agreement, whilst ensuring our members receive a good return on their pensions,” Kjellerup Kjeldsen added.

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