AMWatch

Danica product's risk rebalancing failed to meet conditions

Danica has discovered a mistake made 18 years ago that is now forcing the pension fund to pay out an average of DKK 20,000 (EUR 2,689) in compensation to around 6,000 clients.

Photo: Mogens Flindt

Danske Bank’s pension arm, Danica, may have misled thousands of clients, reports Danish business media Finans, quoting Loyalty Group.

According to the media, around 75,000 clients may have been given the wrong information about their risk levels, which could mean the pension fund is required to pay up to DKK 125m (EUR 16.8m) in compensation.

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