If you fall ill and become unable to work, you may be eligible for regular payouts. Your overall occupational capacity must be reduced to half or less, and your earnings must be reduced by minimum 10 per cent to make you qualified for regular payouts due to reduced occupational capacity. The insurance cover will be paid out regularly until your occupational capacity is improved, however, no longer than until you reach the agreed retirement age.
The size of your coverage is a fixed percentage of your salary. If you have PFA Occupational Capacity with automatic adjustment, the coverage percentage will be adjusted to your salary level on a regular basis. If your salary level increases, your coverage percentage will automatically be increased, and correspondingly reduced if your salary level decreases. The insurance plan tops up to a maximum of 100 per cent of your salary excl. labour market contribution etc. You may change your level of coverage, so that the insurance plan will top up to a maximum of 80 per cent of your salary excl. labour market contribution.
If you are not covered by automatic adjustment, you will, as a rule, have a coverage corresponding to 40 per cent your salary, and you have access to reduce the coverage to 15 percent and to increase it to 80 per cent of your salary.
If you are employed in a flex job, you can receive regular payouts that, as a rule, let you keep your previous salary level. The payout is conditional on your compliance with the described conditions of payout, and the payout cannot exceed the size of cover provided by your insurance plan.
As part of your PFA Occupational Capacity, you have the possibility of receiving increased regular payouts if you enter a job assessment or job rehabilitation programme through your local authority and meet the other conditions of payout. The increased payout consists in a payout, which corresponds to the set-off from the public authorities, which is made in connection with the mentioned programmes, and a payout from PFA Occupational Capacity – regular payouts. The increased payout cannot exceed your previous salary exclusive of labour market contribution and the payments to your pension plan which are covered by payment protection cover. If you have selected a level of coverage of 80 per cent, the extended payout cannot, however, exceed 80 per cent.
If you are covered by the automatic adjustment of PFA Occupational Capacity, the possibility of receiving the increased payout when job rehabilitation benefit has been granted will automatically be discontinued in your plan if your salary level is under a certain level (at present, DKK 160,000 or less), and correspondingly be linked to your plan if the salary level exceeds the limit.
Log on to My PFA and get a recommendation to the size of your occupational capacity insurance cover
Payment protection cover offers extra security
Your occupational capacity insurance also includes payment protection cover, which ensures that your pension plan will continue while you receive payouts from PFA Occupational Capacity. This means that PFA Occupational Capacity, PFA Critical Illness and PFA Life will continue, and, in addition, that PFA will pay for a part of the payments. This way, you can keep your insurance cover and continue saving for retirement.
Add a lump sum as part of your insurance plan
You can choose to purchase an extra insurance cover that ensures you a lump sum if your occupational capacity is permanently reduced by 2/3 or more. You will receive the payout when your occupational capacity has been reduced for 12 months. You can select a cover up to 200 per cent of your salary.