PFA can help you combine your foreign pension savings

As an employee at Novo Nordisk, you can combine your foreign pension savings in your pension plan with PFA. This option is relevant for you if you were stationed abroad at some point during your employment with Novo Nordisk or if you were employed locally abroad in a company related to Novo Nordisk and have pension savings via your foreign employer.

Foreign pension savings will be transferred to your Danish pension plan with PFA in accordance with further established criteria.

What to do:

  

1. Contact your foreign pension company

Begin by contacting your foreign pension company and ask about your options to transfer your pension savings to your Danish pension plan with PFA. You should also ask if you will lose any guarantees, special types of coverage or similar as well as which costs and possible taxes this would incur in the respective country.

PFA has prepared an appendix in English, which you can submit to the foreign pension company.
 
  

2. Get confirmation from your foreign pension company 

In order for us to transfer your foreign pension savings to PFA, we need written confirmation from the foreign pension company. This should state that they have accepted PFA’s terms of transfer and that it is possible to terminate the pension plan you have with them.

           

3. Submit documentation to PFA for use in money laundering control

According to the Anti-Money Laundering Act, PFA must investigate where the funds originate, and we will therefore obtain certain information from you as documentation. For example, this could be a copy of your employment contract, a copy of your payslips, a copy of the policy or a copy of your most recent pension summary.

   

           

4. Advice concerning the transfer

Your pension adviser from PFA will contact you concerning the transfer from the foreign pension company and, together, you will determine where to best allocate the funds to your pension plan.

           

5. Have your savings transferred to your pension plan with PFA

As soon as PFA has received and evaluated the requested information, PFA will provide you with an IBAN number. You must then give this IBAN number to your foreign pension company, after which the funds will be transferred directly to your pension plan with PFA.