Danish pension fund, Industriens Pension, has announced that its pensioner members will receive adjusted increases in monthly pension payments of between 3 and 10 per cent.

The rise is expected to affect approximately 45,000 Danish pensioners, who will receive an average increase in monthly payments of 6 per cent in 2021.

“We are really pleased that pensioners are experiencing a solid increase in payments after a challenging year with corona and large fluctuations in the financial markets in both directions during the year,” said Industriens Pension insurance director, Joan Alsing.

“The increase is an expression of a reasonable return also in 2020.”

In January, Industriens Pension announced that it delivered returns of 5.1 per cent in 2020, equivalent to DKK 9.7bn.

According to the fund, the size of the annual adjustment of payment depends on the returns, the change in average life expectancy and any other changes to the member’s savings, among other factors.

Additionally, Industriens Pension took into account inflation and the need to maintain purchasing power year-on-year when determining the payment adjustments.

Share Story: