Losing Your Job

If you lose your job and can’t find a new one right away, you need to consider what should happen to your pension plan when your former employer is no longer making any payments to the plan.

Make a decision within 3 months

From the day you leave, you have 3 months to decide what should happen to your pension plan. During these 3 months, your insurance cover continues unchanged.

If you decide not to take any action, your plan will be changed to a pension plan without payments (a paid-up policy), and your insurance cover will either be reduced or lapse completely.

Your options

You continue your pension plan by making the payments yourself.

You keep your insurance cover for a period of time without making any payments.
The price of your insurance cover will be deducted from your savings.

Steps to take

Contact PFA’s Advisory Services Centre at (+45) 70 12 50 00 if you need advice.