PensionDanmark made a return of DKK 16.1bn in 2020, it has reported.

Publishing its results for the full year, the pension provider said it was able to recoup the losses made in the spring when equity markets plummeted.

“We delivered highly satisfactory results in a challenging year. We are robustly positioned thanks to our highly diversified investment portfolio and its strategic bias towards infrastructure and sustainable real estate. This provides stability if equity markets face headwinds,” PensionDanmark CEO, Torben Möger Pedersen, said.

Although the Danish economy suffered a major setback, staff numbers at the majority of the provider’s member companies remained high and stable, meaning the number of active members is largely unchanged. Total contributions increased to DKK 14bn in 2020 from DKK 13.5bn in 2019, while total assets grew by almost 7 per cent to DKK 289.7bn.

In addition, over the year PensionDanmark said its investment costs remained among the lowest in the industry and administrative expenses were unchanged at DKK 297 per member. It said this is possible due to extensive use of new intelligent technologies for member services and case processing.

“This allows for faster case processing, better resource utilisation and more time for personal advice and dialogue with our members – which not only helps ensure that our members’ pension contributions are primarily used to increase their savings, but is also reflected in impressive member satisfaction scores,” Möger Pedersen said.

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