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You become unemployed – what will happen to your pension scheme?

As your budget is probably tight, you should focus on what is most important: That you and your family are financially secure in case of illness, accident and death.

If you lose your job, you need to decide what to do with your pension scheme.

The easiest solution is that you just keep your insurance. However, you may also consider taking out new insurance cover which suits your situation better. 

If you are only without a job for 1-2 months, your missing contributions will only have very little impact on your total savings. You may make an additional contribution once your financial situation has improved. If you are without a job for a longer period, you should consider making contributions to your pension yourself so you do not fall behind.

Tell us what to do with your pension scheme

Contact us if you want to continue your pension scheme after the contributions have stopped. 

If you do not contact us, your pension scheme will automatically be changed into a paid-up policy and that leaves you with your savings only. If the value of your savings is less than DKK 10.900 (2019), the scheme will be terminated.  After payment of fees and charges to SKAT, any surplus value will be paid into your NemKonto.

What will happen to your insurance cover?

If you have a pension scheme with contributions from an employer, you will have some time to consider. Your insurance cover for critical illness, death and reduced earning capacity will remain unchanged for the first three months after contributions have stopped. We use your savings to pay for your tax-deductible insurance cover. If you have non-deductible insurance cover, payment for such cover will be taken from the last contribution.

After three months, all of your insurance policies will expire, and you will be left with only your pension savings. Therefore, it is important that you contact us before the insurance covers expire if you want them to continue beyond the three months. 

If one of the following insurance policies were included in your pension scheme, they already ceased on the date of your resignation: 

  • Health insurance
  • Cancellation of certificate
  • Occupational disability

Read more about your options

You can continue your pension scheme:

If your pension scheme includes both insurance and savings, it might continue:

If your pension scheme only includes savings, you can: