Negative returns have drained collective reserves at several Danish pension funds

Many of the old average interest rate savings plans that take up around DKK 1000bn (EUR 134bn) at Danish pension funds have lost all their collective reserves.

Topdanmark has opted to activate surrender charges on its guarenteed savings schemes. Nordea recently bought Topdanmarks pension business. | Photo: TOPDANMARK

Negative returns have resulted in one of the worst years for the guaranteed pension schemes at more of the Danish pension funds. Their bonus rations, which indicate the levels of bonus reserves, are now entirely depleted or much lower than at the beginning of the year, writes Danish weekly financial newsletter Økonomisk Ugebrev.

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