Improved financial security among our customers

Proactive advisory services are an important tool in providing a sense of security concerning pension savings. A comparison of Danish pension providers shows that our customers feel more confident that they are saving up enough for their retirement.

What should retirement life look like? There are several answers to that question, but common to them all is that it requires money. At the same time, life-changing events can significantly affect your pension savings. If you divorce or marry, if children become involved, if you lose your job for a period or you get a new job. These changes make it important to check whether you are saving up enough for your retirement and in the most suitable way.

In 2021, we launched Danica Update, which enables us to proactively contact customers if they experience life-changing events that will make it advisable for them to adjust their pension scheme. This relieves our customers of the burden of having to keep track themselves and worrying about whether they are saving up enough for their retirement or have the right insurance covers.


More customers feeling financially secure

Our focus on proactive advisory services indicates that our customers have a greater sense of financial security than customers of other providers. According to a survey performed by the market research company YouGov in 2021, only 5% of our customers felt that they had not saved up enough for their retirement, while the corresponding percentage for other providers was 14%. At the positive end of the scale, a full 22% believed to a very great extent that they have saved up enough for their retirement, compared to only 10% of customers of other providers.

“We are well aware that pension savings are not the first thing that comes to mind when you are standing at the altar about to say “I do” or when changing a diaper on your newborn baby. But life-changing events may be of great importance in terms of whether you have saved up enough for your retirement and whether you have the right insurance covers, so it is important to check this every time you experience life-changing events,” says Britt Dinesen Christiansen, senior economist at Danica Pension, and adds:

“It is not just a matter of contributing more or less to your pension scheme, but just as much a matter of getting an overview of your pension scheme and making informed choices about the future to feel financially secure.”says Britt Dinesen Christiansen, senior economist at Danica Pension

“We want to be there for our customers and give them clear recommendations when life-changing events happen. Otherwise, there could be unpleasant surprises in store for them, and they could risk being short of several hundreds of thousands of kroner to maintain their standard of living when they retire,” says Britt Dinesen Christiansen.

In fact, the regular improvements of our proactive advisory services indicate that it makes our customers feel more secure in the knowledge that they have the right pension scheme and insurance covers. A similar survey conducted in 2020 showed that the proportion of customers with a very high sense of financial security increased from 10 percent in 2020 to 22 percent in 2021.

“It is not just a matter of contributing more or less to your pension scheme, but just as much a matter of getting an overview of your pension scheme and making informed choices about the future to feel financially secure,” Britt Dinesen Christiansen points out.

 

A lot can happen in a year. Does your pension scheme fit your current life situation?