About Industriens Pension

Industriens Pensionsforsikring A/S, in short Industriens Pension, is a life insurance company.

A labour market pension scheme for Industrial Employees

Industriens Pension administrates the labour market pension scheme for the employees under the Collective Bargaining Agreement for Industrial Employees.

Two parties have agreed upon the Collective Bargaining Agreement:

  • The Confederation of Danish Industries (DI)
  • The Central Organisation of Industrial Employees in Denmark representing seven different unions

The two parties founded Industriens Pension on 1 December 1992, and the Confederation of Danish Industries owns 35% of the share capital and the seven unions within the Central Organisation of Industrial Employees in Denmark own the remaining 65%. The share capital is DKK 125 million.

No dividends to the shareholders

According to the Articles of Association no dividends are paid to the shareholders. The parties invested to found the pension scheme, not to make a profit. This is in line with the basic idea; that all earnings should benefit members. It might be referred to as a “closed” system in which the funds are routed one way only: to members.

  • The Pension Scheme

    The labour market pension scheme is a compulsory scheme. Industriens Pension has currently around 400,000 members in approximately 8,000 companies.

    All wage earners covered by the Collective Bargaining Agreement for Industrial Employees are both entitled to and bound to become a member of Industriens Pension. The labour market pension scheme is therefore a collective and a joint scheme.

    Pension contributions

    The labour market pension scheme of Industriens Pension is a fully funded defined contribution scheme.

    Under the Collective Bargaining Agreement for Industrial employees the employer and the employee each contribute a percentage of the individual employee's wage to the pension scheme.

    Pension contributions have been raised in every collective agreement since the beginning in 1993 and at present the contribution is 12 per cent of wages. The annual contribution in 2017 was DKK 9.2 billion.


    The pension scheme is constructed so that the level of benefits is determined by the agreed contribution percentage. The size of the pensions depends on the contribution made for the individual member.


    • Retirement pension
    • Retirement sum
    • Life insurance paid in instalments


    • Disability sum: DKK 100,000 (standard coverage). Members may change coverage to DKK 150,000 or DKK 250,000.
    • Disability pension
    • Waiver of premium


    • Death sum: DKK 300,000 (standard coverage). Members may change coverage to DKK 0, DKK 600,000, DKK 900,000 or DKK 1,200,000.
    • Insurance paid in instalments
    • Insurance paid in instalments in case of death

    Critical disease

    • Sum DKK: 100,000 (standard coverage). Members may change coverage to DKK 0, DKK 50,000, DKK 150,000 or DKK 200,000.
  • Investments

    At the end of April 2018 the total assets managed by Industriens Pension were DKK 163 billion.

    The distribution of the assets at end January 2018 can be seen below:

    Investments End April 2018
    Nominal bonds 22.6%
    Other credit 0.9%
    Emerging market bonds 8.7%
    High yield bonds 6.8%
    Investment grade bonds 6.3%
    Danish equities 6.7%
    Foreign equities 20.1%
    Private equity 10.3%
    Real estate 5.1%
    Infrastucture 10.6%
    Other strategies 0.1%
    Financial instruments -0.7%
    Money market 2.5%
    Interest rate overlay -0.6%
    Inflation overlay

    Industriens Pension’s yearly returns in the period from 1993 to 2017 are shown below:

    Return in Industriens Pension Per centage
    1993 22.4%
    1994 -7.4%
    1995 15.4%
    1996 13.7%
    1997 17.2%
    1998 8.0%
    1999 14.0%
    2000 4.6%
    2001 -0.5%
    2002 -2.4%
    2003 11.5%
    2004 10.0%
    2005 16.4%
    2006 7.3%
    2007 0.2%
    2008 4.4%
    2009 13.0%
    2010 18.1%
    2011 4.0%
    2012 12.9%
    2013 6.7%
    2014 11.0%
    2015 6.7%
    2016 8.2%
    2017 8.2%
    2018 8.2%

    The in-house investment department of Industriens Pension manages Danish and international government and mortgage bonds, and Danish equities as well as manager selection across international equities, bonds and alternative investments.

  • Portfolio Managers

    At present Industriens Pension has established portfolio management agreements with the following managers:

    • Aberdeen Asset Management
    • Aristolte Capital Management
    • Bank Invest Asset Management
    • BlueBay Asset Management
    • Brown Advisory
    • Capital Four Management
    • Guggenheim Partners
    • Fisher Investments
    • Investec Asset Management
    • JO Hambro Capital Management  
    • J.P. Morgan Asset Management  
    • Lord Abbett
    • MFS Investment Management  
    • Morgan Stanley Investment Management
    • Neuberger Berman
    • Nomura
    • Nordea Investment Management  
    • PIMCO  
    • Pramerica Investment Management
    • Rothschild Credit Management
    • Seix Investment Advisors
    • State Street Global Advisors  
    • Stone Harbor Investment Partners  
    • UBS Global Asset Management   
    • Wellington Management International

  • Annual Reports
  • Welcome to Industriens Pension

    Most employers pay 2/3 of the contribution to the pension scheme with the members paying the remaining 1/3 themselves, which their employer deducts from their wages. Most members have a total contribution of 12% of their wages.

    Download Welcome to Industriens Pension (pdf)
  • Application for cash disbursement if you move abroad

    By way of exception, it is possible for you to have your pension savings disbursed to you before retirement, if you move abroad and no longer earn income from Denmark.

    Download the application form for cash payment of pension savings before retirement

    Remember that your application must include documentation from the Danish tax authorities (SKAT) stating that you are no longer liable to pay tax in Denmark.

    If your lifelong pension savings exceed DKK 100,000

    If your lifelong pension savings exceed DKK 100,000, you must also submit a medical certificate from your doctor.

    You are personally responsible for contacting a general practitioner to get the certificate filled in.

    We cover any costs of having the certification completed. You are responsible for sending the invoice to Industriens Pension.

    Download the medical certificate which needs to be filled by your doctor

    Phone us on (+45) 7033 7070, if you are unsure of the amount of your lifelong pension savings.

  • Willkommen bei Industriens Pension

    Die meisten Arbeitgeber zahlen 2/3 der Beiträge für die Rentenversicherung, die Mitglieder selbst 1/3, das vom Arbeitgeber einbehalten wird. Für die meisten Mitglieder beträgt der Gesamtbeitrag für die Rentenversicherung 12 % des Arbeitsentgelts. 

    Download Wilkommen bei Industriens Pension (pdf)
  • Witamy w Industriens Pension!

    Większość pracodawców pokrywa 2/3 składki na program emerytalny, natomiast pozostałą 1/3 płacą członkowie (kwotę tę pracodawca potrąca z wynagrodzenia). W przypadku większości członków łączna wysokość składki wynosi 12% wynagrodzenia.

    Download Witamy w Industriens Pension! (pdf)