Life annuity

A life annuity pays you a regular income for life, no matter how long you live. There are no limits on how much you can pay into your scheme, or for how many years you can receive your pension income. A life annuity therefore gives you financial security for the rest of your life when you have retired.

Everyone with a permanent address in Denmark can set up a life annuity with us - there is no upper age limit.

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With a life annuity, there are no limits on the period for which you can receive your pension; a life annuity provides payments until death.

No maximum limits
A life annuity is the only pension scheme where you can contribute as much as you want - either personally or through your employer. Contributions can be made either as a lump sum or as regular instalments.

Tax relief
You can deduct contributions into a life annuity from your top-bracket tax. If you cannot claim the tax relief yourself, your spouse or civil partner can benefit from it.

Exemption from contributions (waiver of premium)
You have the possibility of opting for a scheme entitling you to an exemption from contributions if your earning capacity is reduced to an agreed level for a certain period of time. In that case, your pension scheme will continue as if contributions were still being paid.

Guaranteed payouts
With a life annuity, you can choose to protect yourself with a guarantee or cover for your spouse. The guarantee ensures that your dependents will benefit from the annuity payments during the guaranteed period if you should die prematurely. And cover for your spouse ensures that annuity payments will continue to your spouse for as long as he or she lives if you die first.  

Annuity certain
The maximum amount you and your employer can pay into your annuity certain (fixed-term annuity) with tax relief is DKK 52400. The amount is adjusted each year. You can choose to pay the entire amount as one lump sum or in smaller instalments. In many ways, the annuity certain resembles an annuity pension scheme. Some of the differences are that you can set up an annuity certain no matter how old you are. All you need is a permanent address in Denmark.

What if...
What is important to remember if you are getting married or become unable to work?

What if