If you are married or cohabit with your partner, this may have significant impact on the amount of public benefits you are entitled to – including your state pension benefits. Your civil status also affects what insurance covers we recommend you to take out.

If you have children under the age of 21, this affects the amount of benefits you are entitled to if you fall ill and lose your earning capacity. Your life insurance should also be adjusted to financially secure your children if, in a worst case scenario, you were to die before they reach the age of 21.

We recommend that you receive pension benefits corresponding to 80 percent of your salary upon retirement. For this reason, we need to know your current salary to calculate the amount of pension benefits you should receive – and thus how much you should save up today. Your salary also affects how you should be covered in case of loss of earning capacity.

Many homeowners are saving up in the form of home equity. You can spend part of these savings after you retire. That is why we enquire about your housing situation when recommending how much you should save up for your pension.

On average, Danica customers save up 11.6 percent of their salary for their pension. If you have other savings than your pension scheme and real estate, you can also use these during your retirement. For this reason, we would like to know about any other assets when recommending how much you should save up.

The average retirement age is 63.4. When do you want to retire? The later you retire, the more you are able to save up. Your state pension benefits also increase the later you retire. As a general rule, for each year you want to retire earlier, you need to save up an additional amount corresponding to 50 percent of your annual salary.