What are administrative costs?

All pension schemes charge administrative costs, which include expenses for operating and maintaining IT, labour, rent and postage.

Pension med Gennemsnitsrente 

Pension med Gennemsnitsrente is a pension scheme where interest on the savings is the rate of interest on policyholders' savings. The administrative costs typically consist of a fixed monthly fee and a percentage of the contribution.

This means that if you contribute DKK 1,000 a month, you will pay the same costs regardless of whether your accumulated savings are DKK 10,000 or DKK 1,000,000.

VækstPension

In VækstPension, administration fees depend on whether you're a private customer or part of a company pension scheme.

Private customers
For private customers, the fee consists of a fixed monthly charge, a percentage of your contributions, and a small charge based on the size of your savings.

Company pension scheme
For mandatory company schemes, there is no fixed monthly fee and no charge based on your savings – you only pay a percentage of your contributions.

For Self-Employed occupational pension schemes, a monthly fee and a percentage of contributions apply.

LinkPension

For LinkPension, the administration fee consists of a fixed monthly charge, a percentage of contributions and a small fee based on the size of the savings. The fee rates vary depending on whether you're a private customer or part of a company pension scheme.

You can view your administration fees in your account overview by logging into Mit Velliv.