PFA and Letpension enter new five-year agreement
PFA and the financial institutions behind Letpension have entered into a new five-year partnership agreement aimed at enhancing digital advisory solutions for customers and laying the foundation for future growth.
Through Letpension, a number of financial institutions offer pension and health solutions from Denmark's largest pension company, PFA, to private customers and self-employed individuals. The collaboration has now been extended for another five years.
As part of the agreement, the financial institutions and PFA will increase the integration of shared IT solutions to improve the customer experience and advisory services. Additionally, 20 employees from Letpension will transfer to PFA to consolidate development capacity in one location. This move will make it easier to bring new solutions to market quickly, thereby supporting future growth.
Strong partnership with a customer-centric focus
CEO of Ringkjøbing Landbobank and Chairman of Letpension’s Board, John Fisker, looks forward to the new opportunities and highlights the strengthened collaboration:
"Over the years, we have built a close and strong partnership with PFA, which has enabled us to deliver solutions that meet customer needs. The new agreement provides us with a solid foundation to build on the growth we have already achieved, while also investing in future digital solutions. I look forward to continuing this successful collaboration, where Letpension combines PFA’s leading pension and health solutions with the local knowledge and strong customer relationships of the financial institutions," says John Fisker.
Simplification for the benefit of customers and advisors
In recent years, the Letpension collaboration has significantly contributed to PFA’s growth. According to PFA’s CEO, Ole Krogh, it is therefore gratifying that the partnership is being further strengthened, enabling the financial institutions and PFA to gain an even stronger position in the market for pension and insurance solutions for private customers and self-employed individuals:
"The partnership with Letpension is strategically important for PFA and has been highly popular among customers, achieving substantial growth in recent years. With new advisory solutions, simpler and more efficient processes, and a more streamlined IT structure, we are now strengthening the collaboration and making it more scalable, allowing us to create even greater value for customers. At the same time, we are excited to welcome the new Letpension colleagues to PFA," says Ole Krogh.
About the Letpension collaboration
The Letpension partnership currently involves 13 financial institutions and offers pension and insurance solutions to private customers and self-employed individuals. Over the past decade, contributions to Letpension have quadrupled and are expected to exceed DKK 8 billion by 2025.