A brief guide to your
pension scheme

A pension scheme typically consists of a savings element and an insurance element. The savings element is the sum of money you will receive on retirement, and the insurance element consists of the insurance policies you have taken out to protect yourself in case of accidents.

Pension contributions cover both elements
The amount paid into the pension scheme by yourself or your employer goes to your pension as well as your insurance. The amount you pay depends on how much you would like to receive in retirement and the level of protection you want for yourself and your family if, for instance, you become ill or unable to work or if you die before you retire.

You decide
You can customise your pension scheme to suit your specific needs and requirements. Your employer may already have chosen part of your pension and your insurance cover, but you also have the option to increase your contributions, take out additional insurance or increase your savings element. You can also influence how and when your pension savings should be paid out.

Changing needs
Your needs change throughout your life. When you are young, you may need to protect your earning capacity and your family. As you get older, you may focus on your health and your savings. This is why you have the flexibility to change your pension scheme at any time to best match your needs and lifestyle.

Talk to us
If you are unsure of the details of your pension scheme and how it influences your financial situation in retirement, you can always ask us. We will be pleased to provide advice and discuss your savings and insurance cover with you to ensure they meet your specific needs and requirements.

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Go on

Would you like to have the flexibility to change your risk profile?
With Danica Balance, you can always switch to another investment option that matches your age and life circumstances.

About Danica Balance
Pensions and insurance
Your pension scheme is not only about pension savings, but also insurance for you and your family.

Pensions and insurance