Return in PFA

You obviously want your savings to grow and therefore your money is invested. PFA operates with different investment environments, and here you can get an overview of how the market rate returns have performed under the PFA Plus profiles, including PFA Climate Plus, You Invest (where you build your own portfolio), PFA Optional and Average interest rate.

Changes will be made to PFA’s investment profiles as at 1 April 2025
To strengthen your long-term returns, we are making some changes to our investment profiles. Generally, you do not need to change your current choice of investment profile. However, it is always a good idea to visit our investment guide.
Learn more here

Return – PFA Invests

With PFA Invests, you select an investment profile (A, B, C or D) that determines how your savings should be invested. The investment profile reflects the level of risk connected to the investment of your savings. Profile A has the lowest level of risk, and profile D the highest. Below, you can see the return on each profile illustrated with different time horizons until retirement.

 The illustrations below show two different rates of return:
  • Customer return: The return generated by the investments in the investment profile including the expected interest on Individual CustomerCapital.
  • Investment return: The return generated by the investments in the investment profile. Individual CustomerCapital is not included in the investment return.

The below figures are based on standard assumptions and will therefore deviate from the specific return that will be added to your plan as the return on your plan depends on your payments, payouts etc. You can see the return that will be added to your own savings at My PFA.

Choose between Customer return and Investment return. Also please choose PFA Plus or PFA Climate Plus.
  

Return – You Invest

Here you can see the return on the funds from which you can select in You Invest. Access more in-depth information by clicking on the individual fund.

Also, here you can read more about You Invest, e.g. Sustainable funds.

 

You Invest – terms and conditions

In You Invest, you can select the PFA funds as shown in the table below. These may consist of individual securities, cash and/or underlying funds. An underlying fund may be managed by an external asset manager. PFA cannot ensure that the policy for responsible investments is used and complied with when investing in funds, that are not managed by PFA, through ‘You Invest’.

The value of PFA funds and underlying funds may differ
In cases, where PFA funds include underlying funds, these may be included when calculating the value of the PFA funds in My PFA with values other than the official net asset value of the underlying funds, which can be seen on other websites, including the external manager’s. This is due to the size of the cash portfolio and the time of valuation, amongst other things.

The value of PFA funds in My PFA and on the You Invest website may differ
In My PFA, you select PFA funds at prices set by PFA. Prices are based on trading price calculated by PFA on an ongoing basis. Trading price can only be seen in My PFA when the selection process is completed. Trading price may vary throughout the day and cannot be directly compared with the values of the PFA funds shown on the You Invest website. This is because the values on the website are not calculated using the same method as the trading price. Differences will be greater short-term and will not have a significant impact over a longer time horizon.

The index of comparison shown is not the benchmark of the underlying fund
The index of comparison shown is delivered by external data providers, cf. the text below, and represents the median return of funds placed in the same category as the given fund, by the data provider. The median return is calculated daily and does not represent the return of a specific fund.

Costs
A selected PFA fund may be subject to an emission fee on purchase and a redemption deduction on sale. If so, this will be shown in the estimate for the selected investment (the "receipt") that you approve in My PFA when making your selection. Emission fees and redemption deductions can be seen under "costs" in My PFA.

External data provider
Historical returns and other PFA fund data on the website are provided by an external data and analysis provider. The data is based on the official net asset values of relevant underlying funds, or on net asset values calculated by PFA. Therefore, the values and returns for PFA funds on the website cannot be directly compared to the values and returns that you see based on the PFA funds in My PFA.

Applicable terms
All terms can be found in the Terms and conditions of pension for PFA Plus. In the event a discrepancy is found in the information on the website and the pension terms, the latter applies.


 

Return – PFA Optional

Below, you can see the return percentages for the High-risk, Low-risk, Climate High-risk and Climate Low-risk funds, which you can choose under PFA Optional.

The tables show year to date returns for different percentage distributions between the High-risk and Low-risk funds as well as the Climate High-risk and Climate Low-risk funds.

The return is updated on a monthly basis. Data updated on 31 October 2024.

The menus below show the historical annual returns.

Learn more about PFA Optional

Year-to-date return on the High-risk and Low-risk funds at the end of October 2024

 PFA Plus
High risk Fund Low risk fund
15.22 % 0.22 %
High risk fund share Low risk fund share return
100 % 0 % 15.22 %
90 % 10 % 13.72 %
80 % 20 % 12.22 %
70 % 30 % 10.72 %
60 % 40 % 9.22 %
50 % 50 % 7.72 %
40 % 60 % 6.22 %
30 % 70 % 4.72 %
20 % 80 % 3.22 %
10% 90 % 1.72 %
0 % 100 % 0.22 %
 PFA Climate Plus
High risk fund Low risk fund
14.90 % 1.09 %
HIGH RISK FUND SHARE Low risk rund share Return
100 % 0 % 14.90 %
90 % 10 %

13.52 %
80 % 20 % 12.14 %
70 % 30 % 10.76 %
60 % 40 % 9.38 %
50 % 50 % 8.00 %
40 % 60 % 6.61 %
30 % 70 % 5.23 %
20 % 80 % 3.85 %
10% 90 % 2.47 %
0 % 100 % 1.09 %



Historical return on the High-risk and Low-risk funds

 
Year Return high risk fund Return low risk fund
2023 16.30 %  0.89 % 
2022 -13.23 % -7.89 %
2021 20.64 % 1.28 %
2020 6.73 %  0.84 %
2019 19.62 % 4.88 %
2018 -6.54 %   0.50 %
2017 13.42 %   3.76 %
2016 7.56 %  5.60 %
2015  11.89 % 3.63 %


Year

Historical return on the Climate Plus High-risk and Low-risk funds

 
Year Return Climate Plus High risk fund Return Climate Plus low risk fund
2023 11.00 %  2.89 % 
2022 -16.05 % -8.66 %
2021 21.27 % -0.18 %
2020* 19.99 % 2.76 %
*The Climate funds started as os May 26 2020


Year

Return – Average Interest Rate

With PFA Traditional, your pension savings are placed in the average interest rate environment where your savings accrue a stable deposit interest rate, and you are guaranteed a minimum payout (guaranteed benefits) when you retire. The risk is small, and the chance of achieving a high return is limited.
Learn more about Average interest rate.

The deposit interest rate over the last 10 years

As at 1 January 2024, a separate deposit interest rate will be calculated for each of the 4 interest rate groups. The annual interest rate on Individual CustomerCapital is expected to be 10.0 % in 2025.


Read more about CustomerCapital

Deposit interest rate in per cent before pension yield tax

  2025  2024
Returns - average interest rate Deposit interest rate before tax Deposit interest rate before tax including interest on 2 % CustomerCapital  Deposit interest rate before tax Deposit interest rate before tax including interest on 2 % CustomerCapital
 Interest rate group 1  2.00  2.16 2.00  2.16
 Interest rate group 2  3.00  3.14

2.00

 2.16
 Interest rate group 3  4.00  4.12 4.00 4.12
 Interest rate group 4  5.00  5.10 5.00 5.10

Historical deposit interest rate in per cent before pension yield tax

Returns – average interest rate  2023  2022 2021  2020 2019 2018 2017 2016 2015 2014
Deposit interest rate before tax 1.60  3.00   2.00 2.00 2.00 2.00 1.50 1.50 2.00 2.00
Deposit interest rate before tax including interest on 5 % CustomerCapital 1.92   3.25  2.30

2.30

 2.30 2.40 2.23 2.43 2.90 2.90