annual report 2020 - Flipbook - Side 8
INDUSTRIENS PENSIONSFORSIKRING A/S ANNUAL REPORT 2020
Payments
Total payments decreased by DKK 279 mill.
compared with 2019. This is primarily due to a
decline in transfers on change of job, while
payments for old-age pensions increased due to
a higher number of old-age pensioners.
Continued low administration costs
The “Costs per member” key figure was DKK
256 in 2020, which is slightly higher than in
2019, when the annual costs were DKK 243.
and the prize for the best labour-market pension
company in Europe four times.
Finally, the annual loyalty survey carried out in
December 2020 by Loyalty Group, a
consultancy firm, confirmed that member
satisfaction and loyalty at Industriens Pension is
one of the highest in the pension sector.
MEMBERS AND THE PENSION SCHEME
Table 5
Benefits paid
DKK mill.
2019
2020
Payments for old-age pensions
1,579
1,775
Payments for loss of ability to work
746
788
Payments on death
589
586
Lump sum for critical illnesses
147
144
2,648
2,136
166
168
Transfers on change of job
For 2020, the monthly contribution for
administration has been set at DKK 24 per
member, corresponding to DKK 288 annually.
This keeps the administration contribution at a
level that maintains Industriens Pension's
position as one of the very cheapest pension
companies in the sector.
Other payments
Tax correction of old-age lump sum
Total payments
Transferred to other insurance provisions
0
0
5,875
5,597
146
136
6,021
5,733
Number
2019
2020
Payment due to certain critical illnesses
1,470
1,438
215
242
New disability pensions (degree of disability more than 67%)
1,092
1,155
Payments to surviving relatives after death
1,558
1,518
Retirement savings scheme paid out, but member not retired
1,699
1,700
Old-age pension paid as a lump sum
1,899
1,981
New old-age pensioners
3,152
3,441
Total benefits
Several prizes in 2020
In November, in a survey based on responses
from more than 5,000 Danes, FinansWatch, a
financial news media, and Wilke, a market
research firm, lauded Industriens Pension as the
company with the best reputation in the pension
sector in 2020.
At the annual IPE Conference and Awards in
December 2020, Industriens Pension won the
prize for best bond investor among pension
companies across Europe. The assessment
panel stated that the prize was awarded
because of a consistent and balanced
investment strategy contributing to positive
results both in the short term and in the long
term.
Over the years, Industriens Pension has won a
large number of IPE prizes, including the prize
for Denmark’s best pension company four times,
Table 6
New recipients of pensions
Payment due to degree of disability of between 50-67%
7