Danish pensions enter an unknown territory following historical plummet in interest rates
The radical plummet in long interest rates increases pension companies' accountability towards customers as they have to account for negative interest rates in their calculations of the next 20 years of pension savings. "A perfect storm," claims Velliv CEO, predicting a self-enforcing effect in terms of decreasing interest rates.
BY ANNE LOUISE HOUMANN, FINANSWATCH
Lately, Denmark and the rest of Europe have witnessed interest rates plummeting to create a new and unprecedented situation for Danish pension companies.
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