It is possible to insert a beneficiary (one or more) on your capital pension and/or expiring annuity pension, along with your group life insurance.
Unless you have agreed otherwise with us, your next-of-kin will receive the money from your schemes or group life insurance.
You have tax deduction for your pension contributions. As a result of this the Danish Pension Taxation Law restricts who you can insert as beneficiaries on your pension scheme. According to the law, you can insert the following people as beneficiaries; next-of-kin, spouse/registered partner (also divorced spouses), a named cohabitant and/or children (also stepchildren, cohabitants children and the heirs of these), as you don't have tax deduction for your group life insurance, the restrictions don't apply for the group life insurance.
According to the Estate tax law, an Estate tax will be levied on the possessions left by the deceased, in this scenario a capital pension and/or expiring annuity pension, will be seen as a possession. The pension fund withholds the Estate tax before disbursement. The size of the Estate tax depends on who the recipient is, and varies from 0%, 15% and 36,25%. Spouses are exempt from the Estate tax.