For a pension provider to have a pension scheme approved, the scheme must meet the same requirements as similar Danish schemes. This means that the scheme must correspond to either a Danish pension scheme providing a regular income (life annuity, surviving spouse or cohabiting partner pension, children's pension or disability pension), a temporary old-age pension, an annuity pension or a capital pension scheme. See the descriptions below:
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Pension scheme providing a regular income (life annuity, surviving spouse or cohabiting partner pension, children’s pension or disability pension):
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Annuity pensions and temporary old-age pensions:
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Capital pensions:
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- The scheme must provide a pension in the form of a regular income which ceases when the pensioner dies.
- Payments do not start until the time the customer is eligible for the pension
- The pension scheme must be based on tariffs.
- The scheme could also be similar to a disability pension, surviving spouse or cohabiting partner pension or children's pension.
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- The scheme must be disbursed in instalments over a period of at least ten years.
- The pension scheme must be based on tariffs.
- In case of annuity pensions, the instalments must be equally large and the last instalment must be disbursed no later than 25 years after the time the customer became eligible for the pension.
- Close relatives may be named as beneficiaries.
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- The pension savings are to be disbursed as a one-off payment.
- The pension scheme must be based on tariffs.
- The pension cannot be disbursed until the time the customer becomes eligible for the pension, and disbursement must have taken place no later than 15 years after the customer becomes eligible for the pension.
- Close relatives may be named as beneficiaries.
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