If you become self-employedIf you become self-employed

When you start your own business, your financial situation will change radically, and your paycheck and pension scheme will no longer be automatically guaranteed. Therefore it is worthwhile considering how you would like to be covered.

Self-employed and retirement
When you become self-employed, you have to consider where your income will come from in retirement. You cannot be sure that you will be able to live entirely off the money you make by selling your business, and as a self-employed person, you will be eligible for neither Danish labour market supplementary pension (ATP) nor an occupational pension scheme.

Establish pension schemes
Remember to establish a pension scheme for yourself. As a self-employed person, it could especially be an advantage for you to establish a life annuity or an annuity pension scheme as they are protected from creditors. Besides, you should also set up pension schemes that provide insurance cover for your employees. This means that everyone will be on the safe side if something happens and will receive a regular income in retirement.

With insurance against loss of earning capacity, you protect your family financially if you become ill or suffer an injury, making you unable to work for a period of time. Life insurance may also be a good idea if you would like to protect your family financially on your death.

Talk to us
Talk to us when you become self-employed. You are always welcome to call us or write to us, and we will be pleased to advise you on how to make the most of your pension savings and insurance policies.

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Would you like to have the flexibility to change your risk profile?
With Danica Balance, you can always switch to another investment option that matches your age and life circumstances.

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