If you pass away before reaching retirement age

A lot of people are greatly comforted by the fact that, when they pass away, their family will be taken care of financially and life will go on.


  

  
Intro

Typically, you will have a life insurance plan that will be paid out to your dependants if you pass away before reaching retirement age. This means that your family will be taken care of financially even if you are no longer around to contribute. Your pension savings will be paid out in full or in part.

If you have already retired by the time you pass away, your family will be paid the remainder of your instalment and endowment pension savings.

 

Make a decision

It is always a good idea to think about who will be getting the money from your pension plan when you pass away. As a general rule, the money will go to your ‘next of kin’. 

Through self-service at My PFA, you can see your options of changing your designation of beneficiary of your plans – in other words, who will get the money when you pass away. 

If you have children, you may want to consider whether to take out a children’s pension.

Log on to My PFA

Check out the options you have for children’s pension at My PFA


  

 
   
What you can do

Contact PFA’s Advisory Services Centre by calling (+45) 70 12 50 00 if you need advice about your situation.

 

We recommend that you contact a legal adviser if you need advice about inheritance and wills.

Read about designation of beneficiaries