New law changes fate of otherwise doomed pension fund
Due to the nature of its mandate, Lønmodtagernes Dyrtidsfond (LD) has experienced the slow and steady decline of its assets under management. Recently, however, the Danish parliament passed legislation appointing LD as manager of a new fund to be created in 2020 containing a year's worth of earned holiday rights for all Danish workers. A big boost, says LD's CEO.
Until recently, LD expected its assets to fall by 30 percent in five years. After that period, the rest of the assets would also slowly but surely decline as members' pension savings were paid out.
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