Industriens Pension monthly admin cost at DKK 24 a member

Industriens Pension has revealed that the cost of administration this year for each member amounts to DKK 24 a month.

Publishing the costs, the Danish pension scheme said there will continue to be a sharp focus on efficient operations.

It said the low cost was achieved by scale, as it has 410,000 members that are managed via the same IT platform, as well as a constant focus on “efficient an agile” processes.

Commenting, Industriens Pension CEO Laila Mortensen, said: “We are very aware to constantly improve our service for members, but at the same time we are very focused on what it costs.”

The cost is a slight increase on 2019 when the unit cost per member was DKK 22 a month. It said the cost was “exceptionally low” last year due to a VAT refund it had received from SKAT (Denmark’s tax authority) that had covered some of the costs.

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