Danish pension provider, PFA, has credited customers’ pension savings with a combined DKK 1.7bn, after its KundeKapital fund reported returns of 8 per cent of the customers’ individual customer capital, despite the impact of Covid-19.

The fund, which is PFA Pension’s special model for profit and risk sharing, has paid out a total of DKK 17.5bn to customers since its launch in 2004.

Indeed, the provider pointed to the the annual profit and risk sharing as a good reminder of the “close and binding” relationship has with PFA customers.

It also highlighted the fund as being “safe and stabilising” amid the increased investment risk and volatility seen throughout the pandemic, with the extra money providing “padding” to members' pensions.

Commenting on the results, PFA group CEO, Allan Polack, added: “PFA Pension was founded with the purpose of ensuring customers and their families a safe and good life.

"In other words, we exist for the sake of our customers, and that is what we mark with our annual profit and risk sharing.

“This year, we transfer DKK 1.7bn to the customers, who thereby get their pension savings further padded.

“We are pleased that in a challenging year with corona, we have once again created a profit that we can distribute to our customers in the form of extra interest on the customers' individual customer capital.

“This confirms that we, together with our customers, are on a strong financial foundation.

"It provides a good ballast for our continued work to help customers create the framework for the good life - both financially and when it comes to their health, housing needs, late career and wishes for a green and sustainable present.”

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