Annual Report 2023 (eng) - Flipbook - Side 7
INDUSTRIENS PENSIONSFORSIKRING A/S Ă…RSRAPPORT 2023
THE PENSION SCHEME
The pension scheme
The pension scheme
By virtue of collective bargaining agreements,
Industriens Pension has been trusted with an
important task for industrial employees in
Denmark: To manage contributions made by
companies and employees during a person’s
working life to supplement state pensions and
secure a good income throughout retirement for
Danish industrial employees.
Industriens Pension has been developed and
renewed over the past 30 years, and has a
fundamental ambition to provide financial
security to its members through pension savings
Table 3
and through insurance for employees who are
no longer able to work.
Through
attractive
returns,
efficient
administration, reliable insurance schemes,
targeted communication and good customer
service, Industriens Pension offers the best
possible pension scheme for Danish industrial
employees, and today significant pension assets
have been entrusted to the company which must
be managed responsibly.
Industriens Pension contributes to economic
sustainability by ensuring members good
pension savings through the highest possible
long-term returns, taking into account the risk.
Returns for members
Members
The lifecycle product means that the investment
risk of the individual member is reduced in line
with the member's age.
At the end of 2023 there were 442,000
members of Industriens Pension, an increase of
3,000 over the year before. Of these, 174,000
contribute to the scheme via their employer. The
number of old-age pensioners increased to
52,000 in 2023.
Contributions
Total contributions for the year amounted to
DKK 11.7 mill. (before withholding income tax (A
tax) and labour-market contributions). Deposits
and transfers are lower than the preceding year,
but largely balanced by larger regular
contributions.
All members who were not receiving a pension
on 1 June 2012 have their savings placed in a
lifecycle product on market-rate terms.
Investment assets are split into two subportfolios: an offensive portfolio and a defensive
portfolio, and the percentage for the individual
member depends on the age of the member.
Members up to 51 have their entire savings
placed in the offensive portfolio with higher risk.
After this, the percentage is reduced gradually
as the members become older.
In 2023, the return on the offensive portfolio was
6.4%, while the defensive portfolio yielded a
return of 2.5%.
Industriens Pension has focus on sustainability;
economic
sustainability,
environmental
sustainability and climate sustainability.
Table 4
Number of members at the end of the year
Contributions
DKK mi .
Members who p
Se f-p
vi their emp o er
ing members
Apprentices nd tr inees who on
,
,
,
Contributions, ife ssur nce
,
,
,
Deposits nd tr nsfers
,
,
,
,
Contributions, ccident nd sickness insur nce
h ve insur nce cover
Members exempt from m king contributions
,
,
Contributions, contr cts t ken out individu
Tot
,
,
Tot
P ssive members
,
,
O d- ge pensioners
,
,
Dis bi it pensioners
,
,
Tot
,
,
ctive members
contributions
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