I would like to transfer my scheme to you – is that a good idea?

If your savings are covered by a charge on policy transfers and surrenders, it is best to leave them until the charge on policy transfers and surrenders is removed again. Until then, you are free to transfer your future contributions.

Your future contributions will in fact also be covered by the charge on policy transfers and surrenders. In popular terms, this means that the DKK 100 you contribute on Monday will, depending on the company, only be worth DKK 85-95 on Tuesday. The joint reserves have been lost and have to be rebuilt. The value of the your savings have been reduced to less than the value of the future payments. Your future contributions will contribute to rebuilding the joint reserves and that limits the ability to provide a high rate of interest on policyholders' savings for the coming years.

Instead, it will be an advantage to leave your current savings until the charge on policy transfers and surrenders has been removed again as you will otherwise lose 5-15 per cent of your savings here and now. We suggest that you complete all the paper work now and then we will transfer the savings as soon as the charge on policy transfers and surrenders is removed.