Denmark's Sampension adds three new customers to corporate client base

Three Danish companies have chosen Sampension as their pension provider, totalling approximately 350 employees across the country.

Danish manufacturing companies CP Kelco and Novenco, and digital banking fintech Cardlay, recently entered into an agreement with the pension provider, which will supply pension schemes for the firms' workers.

The two firms will join non-profit Muskelsvindfonden and administration business AffaldVarme Aarhus as customers of the provider. The two companies became Sampension corporate customers earlier this year.

Approximately 270 CP Kelco employees will enroll on the scheme by 1 March 2022, while around 30 Novenco staff will join, along with about 45 employees of fintech company Cardlay, by 1 November and 1 October respectively.

CP Kelco CFO, Marianne Koch, said: “We must offer our employees the best possible terms, which of course applies to their pension scheme. We have been through an extensive and thorough tender round, where we have focused on many factors to ensure employees the most competitive scheme. Here the choice fell on Sampension, which overall had the best offer with a strong advisory setup, low costs and solid insurance coverage.”

The Danish FSA recently introduced an SUL executive order, expected to come into force in the new year. The order will make it harder for providers to offer discounts to selected companies on health and accident insurance.

Sampension says the new rules will help its position and grow its corporate customer base.

“We get selected from tenders because we do not want to offer some customers lower prices than others. When we participate in tenders, we do not change price. Instead, everyone gets the same fixed low prices, which in our opinion is most fair,” said Sampension CEO, Hasse Jørgensen.

In August, Sampension revealed it generation returns of up to 14 per cent for its customers in the first half of the year.

Customers with market-rate pensions, in which there are no guarantees upon retirement, received returns of up to 14 per cent before tax, according to the provider’s interim results.

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