More than half (54 per cent) of Danes with a pension have not taken an active position on who will eventually inherit their pension money, according to research by Epinion for Industriens Pension.

In light of the findings, the company has urged savers take formal steps to establish who is the beneficiary for their pension pot in order to ensure it is going to the right person, emphasising that preferences often vary between savers.

Furthermore, it stressed that where savers do not take an active position, most companies will automatically pay out to their next of kin.

However, it warned that this could present a problem, particularly for those with more complex or non-traditional family structures, as this could mean that it is a cohabitant and not an individual’s children who is paid the pension, for instance.

Industriens Pension insurance director, Joan Alsing, stated: “It is important that you have control over who is responsible for inheriting the pension.

“We recommend that you take an active position on who should inherit, so we are absolutely sure that everything is as the members themselves want.

“This is an important consideration, because we know that the wishes of who should inherit the savings often differ from person to person.

"With modern and changing family forms, where not everyone gets married, for example, it is extra relevant that you check and actively take a position on who is the heir of the pension money.”

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