Denmark's PFA Pension has given DKK 1.7bn back to its customers with KundeKapital, following strong profits in 2023.

It is the second year in a row that PFA customers with KundeKapital have received a share of the DKK 1.7bn to add to their pensions.

"We exist for our customers, and everything we do benefits our customers. I am proud of the strong and robust customer community that we at PFA have with our 1.3 million customers. A community that means we can once again send DKK 1.7bn back to our customers," PFA managing director, Ole Krogh Petersen, said.

This year marks 20 years since PFA first gave money back to its customers. In the 20 years that PFA has shared profit and risk with customers, customers with PFA KundeKapital have received a total of DKK 26bn in profit sharing.

"PFA's customer community has never been more relevant than today. In a time when many feel uncertain about the future, it is essential for us at PFA that we can help create financial security for our customers, and KundeKapital contributes to that," Krogh Petersen said.

PFA said the expected return on customers' individual customer capital will be increased from 8 to 10 per cent.

"With a higher expected rate of return, KundeKapital becomes even more attractive. The changes in the model for PFA KundeKapital allow us to set the expected rate of return up to 10 per cent. It is a high rate of return if you compare it with the expected return from a balanced pool of shares and bonds," Krogh Petersen, concluded.

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