Get a monthly income as a retiree and instant tax deduction

With an annuity pension, you will continue to have a monthly income when you retire. You will receive an amount every month for 10-30 years, meaning that you can maintain your lifestyle even though you no longer work.

At the same time, annuity pension is a particularly interesting savings type if you pay top-bracket tax. You will be able to take advantage of your tax deduction right away – while you make pension contributions.


Annuity pension with payment for 10-30 years

With an annuity pension with Velliv, you can feel secure when you start life as a retiree with a monthly payment for up to 30 years. You do not have to decide how you want your money until you retire.

You will get:

  • tax deduction for your contributions of up to DKK 63,100.00 (2024) per year.
  • the possibility of contributing more and still receiving full deduction as the rest of the money is automatically transferred to a Livrente+ pension scheme.
  • security for the payment of your savings as your surviving relatives will receive your annuity pension for the rest of the period.

Financial security for your family

Pension is also about financial security for your family if you die early or become seriously ill.

With annuity pension, your family will receive your monthly benefits if you die before the last payment. Your family may also choose to receive the savings as a lump sum. In that case, they have to pay 40 per cent tax to the Danish State.

As a general rule, you decide who to nominate as beneficiary – but there are certain limitations. Read more about who will inherit your pension.

Who can establish an annuity pension scheme?

You can establish an annuity pension scheme if you have not yet retired or if you do so no later than 20 years after the pension benefit age that applies to you.

For how many years do you want pension benefits?

You do not have to decide how you want your savings to be paid until you retire. At that time you will know much more about your life situation. 

You can also choose to have your savings paid out over more years if you have already started to receive pension benefits. The changes apply for a calendar year and must be notified well in advance in order for them to take effect at the turn of a year.

Additional insurance

  • Adapt the annuity pension to your needs

    You can choose to add different insurance types to your savings under your annuity pension scheme.

  • Cover for reduced earning capacity

    This insurance provides monthly benefits if your general earning capacity is reduced due to illness or accident. Read more about cover for reduced earning capacity

  • Waiver of premium

    If your earning capacity is reduced to the required extent due to illness or accident, you may be exempted from making contributions to your pension scheme. This means that you no longer make contributions yourself but that the savings continue as if you still did. The waiver of premium payment continues for as long as your earning capacity is reduced, however, only until the agreed retirement date.

  • Cover on death

    This insurance provides financial security for your family if you die early. If you die before the agreed retirement date, your surviving relatives will receive your cover on death.

  • Children’s pension

    Children's pension provides monthly benefits to your children if you die before the agreed retirement date. Children's pension can be paid out until the children turn 24. 
    Read more about children's pension

    Contact us for more information about your options. 


  • How to make the most of the allowable deduction for your annuity pension

    When you contribute to a pension scheme, it is a good idea to consider the tax deduction options related to the different savings types. 

    Contributions and tax deductions

  • When you contribute to an annuity pension through your employer

    If the annuity pension has been established by agreement with your employer, the employer will make the pension contribution including labour market contribution. The total contribution is deducted from your salary before tax. Velliv will calculate and pay labour market contribution of the total contribution.

  • When you make contributions to a private annuity pension

    If you have established a private annuity pension, you can deduct the contributions from your taxable income. The total cap for annuity pensions is DKK 63,100.00 (2024) per year. If you also contribute to an annuity pension through your employer, the contribution through your employer will be deducted first. If, for example, your employer contributes DKK 25,000 to your annuity pension, this corresponds to DKK 23,000 after labour market contribution. In that case, the maximum deductible contribution is therefore DKK 34,200 for a private annuity pension.

  • Payments from an annuity pension

    The payments are taxed as personal income and no labour market contribution is payable of the payments.

The purpose of this page is to give you an overview

The information on this webpage is general. Contact us for personal advice based on your individual situation