You can easily check if your payments are going towards old-age savings with PFA on My PFA by selecting “Your savings”, then “Survey of savings” and finally “Amount of savings per product”.

You can log in on Pensionsinfo.dk. Here, you can view all your pension plans and determine whether you have an old-age savings plan. You need to contact each provider if you wish to find out how much you are paying to your old-age savings plan.

If you are making payments to old-age savings in multiple places, you should take action, as you risk exceeding the maximum limit for payments. 

You may begin payouts at the same time as your other pension plans with us.

This means that if your instalment pension or life pension, for example, can begin payouts as early as age 60, the same terms apply to your new old-age savings plan.

Yes – even though only a small annual amount of currently DKK 9,900 (2026) can be paid, it quickly adds up over a long working life. Especially because the maximum limit for payments increases significantly during the final seven years before state retirement age. 

Example: 
If you pay the maximum amount every year from the age of 25, you can expect to have approximately DKK 1.2 million tax-free in your pension savings by the age of 70 (the amount is in 2026 present value terms, and the expected return is calculated based on PFA Invests Medium Risk with 2026 return assumptions).

If you are already making payments to old-age savings elsewhere, such as through your financial institution, we recommend that you stop making payments to old-age savings with PFA to avoid exceeding the maximum limit for payments.

The maximum limit for payments applies across all old-age savings plans you have, and if you make payments exceeding the permitted annual amount, you will be required to pay a fee for the excess amount.

The fee amounts to 20 per cent of the excess payment, but it can be reduced to 4 per cent if the amount is transferred to an instalment pension or life pension. 

There will be no changes to the distribution of your payments to your savings when your salary changes.

If you receive a significant salary increase, you should contact the PFA Advisory Services Centre at (+45) 70 12 50 00 for advice on how to optimise the payments made to your savings plan.

If you start paying middle- or top-bracket tax at a later stage, it will typically be best to adjust your savings choice to avoid paying middle- or top-bracket tax on payments to your old-age savings plan.  

Yes, you can always freely choose to opt in or out of making payments into an old-age savings plan by calling or advisory services centre at (+45) 70 12 50 00 or by sending us a message via My PFA. 

The funds in your old-age savings plan are fully secured in the event of your death and will therefore be paid out to your designated beneficiary or beneficiaries as a tax-free lump sum.  

When you pay into old-age savings, your payment into instalment pension and life pension will be lower, and therefore you should change the expected payment into pension plans with regular payouts, including the payment to ATP, in your preliminary income assessment. The amount is registered under “Employer-administered pension” (field 628). You can see your expected contributions to your instalment pension and annuity pension on My PFA under Your savings/Payments/Overview by savings type (Payments – My PFA). You may risk having to pay underpaid tax if you do not change this amount in your preliminary income assessment.

PFA settles the tax on the payments into your old-age savings, and therefore you do not need to pre-register these payments yourself (field 347).