Beneficiaries – who should receive the money?
A beneficiary designation is an agreement on who PFA should pay out the money to in the event of your death.
As a starting point, the money will be paid out to your “next of kin”. It is a legal concept that, in order of priority, lists who will receive the money in the event of your death. It applies to your plan unless you have actively changed it. Exactly who your next of kin are depends on whether your plan was established before or after 1 January 2008. The new rules also cover cohabiting partners. You can read more about next of kin at pfa.dk.
Your market rate plan will be covered by the new definition of “next of kin”.
Special beneficiary designation
If you have designated a beneficiary, we will pay out the money to one or more persons mentioned by name in the event of your death.
Any existing beneficiary designation will not be transferred to your new market rate plan. If you want to name one or more beneficiaries, please complete a new beneficiary declaration, which you will find at pfa.dk. If you do nothing, the standard beneficiary designation "next of kin" will, as mentioned, apply according to the new rules, which also cover cohabiting partners.
At My PFA, you can see who is designated as beneficiary of your plans and your options of changing the beneficiary designation. If you need advice on beneficiary designation, please contact us at (+45) 70 12 50 00.