Four in 10 Danes are unaware of how their pension scheme would support them financially if they became seriously ill or unable to work, according to a new survey conducted by Epinion for Sampension.

The poll of around 1,000 people found that 37 per cent said they had either “little” or “no” knowledge of the insurance in their pension scheme, while a further 3 per cent responded “don’t know”.

Sampension chief advisor, Helle Dalsgaard, said the findings were concerning, noting that insurance needs typically change over time.

The survey found that awareness was particularly limited among younger people, with 45 per cent of 18-34-year-olds stating they had little or no knowledge of their cover, and 5 per cent saying they did not know.

Dalsgaard stressed that pensions should be viewed not only as retirement savings but also as protection during working life, adding that younger people, in particular, should ensure they are properly covered as they establish families, homes, and careers.

Indeed, more than half (57 per cent) of Danes reported being concerned about their financial situation if they were unable to work or became seriously ill, with this concern rising to 67 per cent among those aged 18-34.

The findings come amid broader European concerns about low awareness of protection within pension systems, with recent industry reports highlighting persistent pension protection gaps and the need to improve engagement, especially among younger generations.

Meanwhile, engagement concerns persist for Danish savers, with previous research from Sampension revealing two-fifths (40 per cent) of those aged 56-65 have not received advice about or made a plan for their retirement finances.

The group suggested that this is particularly concerning, given that the number of Danes retiring is steadily increasing in Denmark, predicting that this trend will continue in the future.

---