Danish pension provider PFA has extended its collaboration with the financial institutions behind Letpension for another five years, with the aim of enhancing digital advisory services and supporting long-term growth.

Through Letpension, 13 financial institutions distribute PFA’s pension and health products to private customers and the self-employed.

The partnership, which has been in place for more than a decade, has seen contributions quadruple during this period and is forecast to exceed DKK 8bn by 2025.

As part of the renewed agreement, PFA and the financial institutions will further integrate shared IT systems in order to streamline advisory processes and improve customer experience.

Around 20 Letpension employees will also transfer to PFA, consolidating development capacity in one location. According to the provider, this is expected to accelerate time-to-market for new products and solutions.

Commenting on the agreement, Ringkjøbing Landbobank CEO and chairman of Letpension’s board, John Fisker, said: "Over the years, we have built a close and strong partnership with PFA, which has enabled us to deliver solutions that meet customer needs.

He continued: “The new agreement provides us with a solid foundation to build on the growth we have already achieved, while also investing in future digital solutions.”

PFA CEO, Ole Krogh, added that the partnership is “strategically important” for PFA.

“With new advisory solutions, simpler and more efficient processes, and a more streamlined IT structure, we are now strengthening the collaboration and making it more scalable, allowing us to create even greater value for customers. At the same time, we are excited to welcome the new Letpension colleagues to PFA."

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