Retirement savings scheme

The maximum amount you can contribute per year is DKK 9,100, and the contributions are not tax deductible.

If you have seven income years or less to your state pension age, you can contribute up to DKK 58,900 per year.

If you have more than one retirement savings scheme, you can contribute a maximum of DKK 9,100 or DKK 58,900 in total.

You can set up a retirement savings scheme until 20 years after you reach your pension payout age (for example 60 years + 20 years = 80 years).

Learn more about pension payout age (PDF) (In Danish only)

Retirement savings can be paid out from the date you reach your pension payout age, but you can choose to postpone your payout for a period of up to 20 years after this date. The payout is tax free, as your contributions are not tax deductible.

If you want to have your retirement savings paid out before you reach your pension payout age, the payout will be subject to 20% tax.

Your savings can be paid out in several ways. It can be paid out when you take early retirement or retire. You can also have your savings paid out in smaller portions. You can continue to make contributions to your retirement savings scheme, even though you have received a payout.

You have savings balance protection, meaning that your beneficiaries will receive your savings if you die before you receive all your benefits.

A retirement savings scheme can be set up by you personally or through your employer.

The price of a retirement savings scheme depends on various factors:

• how you want your savings to be invested
• the amount of contributions per month or year