Become part of a responsible community
AkademikerPension is a member-owned pension fund for everyone with an academic education. We have more than 170,000 members, and whether you're new or established self-employed, we can offer you one of the strongest value propositions in the pensions industry at a low, transparent price that's the same for everyone.
Of course, you get a comprehensive package with attractive insurance, pension savings and health schemes, but you also become part of a pension fund where:
- You become a co-owner and get the same conditions as all other members
- You get high returns on a responsible basis
- You pay low costs and no hidden fees
Do you want to hear more about the options for taking out a pension for the self-employed, or do you have questions about your existing scheme, you can always contact us.
Your options as an international worker
As an international employed according to the collective agreement, you can choose from two different options regarding your pension scheme. Or choose to be exempt from paying pension contributions. Each scheme has its advantages and disadvantages.
The insurance coverage consists of:
- Disability insurance which will provide you with financial security should you lose your ability to work.
- Partner/children’s pension which will provide your family with financial security in the event of your untimely death.
The coverage is the same, whether you choose one or the other pension scheme that are described beneath, whereas the taxation is dealt with differently dependent on which pension scheme you choose.
According to the collective agreement that covers all academic staff, your employer will transfer a monthly pension contribution to AkademikerPension calculated as 17.1 % of the base salary + pensionable supplements.
In Denmark, pension contributions are exempt from taxation when they are paid into the pension fund. This means that you will not need to pay tax on pension contributions transferred to your pension fund. Instead, tax will be deducted when you request for your pension savings to be paid out.
If you take out your pension savings when you reach the age of retirement, the taxation rate will depend on your tax situation and the prevailing pension tax legislation at that time.
Under this scheme, your employer will transfer a monthly pension contribution to the relevant pension fund, calculated as 17.1 % of your base salary + pensionable supplements. However, when the pension contribution is made to your pension fund every month, it will be taxed immediately according to your current tax status. This means that every month you will pay tax on the monthly pension contribution.
If you are under the researcher taxation scheme with a flat rate of 27 % tax (plus 8 % labor market contribution), your pension contribution will be taxed at approximately 33 % every month. If you are not eligible for the researcher taxation scheme, you will be taxed at the tax rate according to your Danish tax card. The taxation rate will typically vary between 37 and 42 %.
All tax related to the pension that you earn while employed by the university will already have been paid when you take out your pension savings.
Please note that bonus added to your section 53A pension scheme is subject to normal Danish income tax, which typically varies between 37 and 42 %.
Important
If you are under the researcher taxation during your stay in Denmark and choose to have a pension scheme; it does not make sense to choose the “ordinary pension contribution scheme” as your pension contribution will be taxed every month.
The Danish Ministry of Finance and the Danish Confederation of Professional Associations (AC) have agreed on a new protocol that makes it possible for all international researchers employed by a University or a similar Institute to be exempted from paying pension contributions.
This means that an amount equivalent to the pension contribution, calculated as 17.1 % of your base salary + pensionable supplements, will be paid out together with your monthly salary. This amount will be taxed according to your current taxation status, whether you are covered by the researcher taxation scheme or taxed on the basis of an ordinary Danish taxation rate.
In order to be eligible for pension exemption, you must meet the following requirements:
- Employment as a researcher, research assistant, PhD fellow, postdoc, assistant professor, associate professor or professor.
- Non-Danish citizenship.
- Fixed-term employment – maximum of five years.
- Recruitment directly from outside Denmark.
If your employment as a researcher is extended, or if you change your place of employment from one university to another Danish university, the pension exemption will remain in effect for a maximum total term of five years (six years if agreed with your trade union representative and your department).
The pension exemption agreement cannot be retroactive. This means that any pension contributions already made by the employer to the relevant pension fund are irreversible.
If you choose pension exemption instead of the ordinary pension contributions you should be aware that you will not benefit from the insurance coverage that comes with the pension scheme. It is therefore advisable that you consider taking up additional private insurance. You will only be covered by the mandatory group life insurance policy which provides basic insurance in the event of critical illness or death.
It is advisable that you consider which pension contribution you prefer prior to your employment. If you choose one scheme and want to alter your choice at a later date, you must inform your employer. The employer will then register the change, which will take effect from the following month’s salary payment and the employer will notify the pension fund about this change. Keep in mind that retroactive changes are impossible.
Please note that unless you have informed your employer about your wishes in terms of pension scheme, you will automatically be placed on the ordinary pension scheme.
Advantages of choosing us
When you, as a self-employed person, have a pension with us, you become a co-owner of AkademikerPension together with 170,000 other academics who together invest DKK 145 billion.
Being part of the community means you get a number of benefits that you can enjoy.
As a member with us, you get the AlfaPension scheme.
Here, as standard, you are well secured financially if you are suddenly affected by a critical illness or are unable to work. Just as you have a savings account with a risk adapted to your age.
Both insurance and savings can be adapted so that you get the coverage and take the investment risk that suits your particular life.
In addition to a pension scheme, you also get a health scheme.
You pay DKK 79 per month via your pension scheme and have the option of purchasing additional treatment at private hospitals and/or an individual health scheme for your partner and children.
Our most important purpose is to ensure that you have a secure old age where you can afford to live the life you want. That is why we focus on creating the best possible return over the many years you save for retirement.
With us, responsibility is the prerequisite for a good, long-term return, which is why we invest with a focus on climate, environment and human rights, among other things.
As a member with us, you can count on us working every day to play a positive role in the development of society. We work to promote the green transition and the UN's 17 global goals for sustainable development.
Everyone at AkademikerPension invests in the climate and contributes to the green transition. It is therefore not necessary to opt in or out of investing green.
You can always get free advice by phone or email.
You also get access to our self-service universe, where you can easily get an overview of and adjust your pension scheme.
For us, it is important that you can easily see what you are paying for.
That is why we have equal conditions for all members and no hidden fees.
Termination of employment – leaving Denmark
When your employment ends and if you leave Denmark, you have 2 options.
- You can let your pension savings stay in your pension scheme and claim the disbursements started when time is due.
- You can withdraw your pension savings when you leave Denmark.
Taxation of disbursement of your pension – whether you have policy payout or a withdrawal of your pension savings – is mentioned in the different sections under "Your options as an international worker".
When you live abroad and have a pension scheme in Denmark, it is a statutory requirement that we, as a pension fund, report information about your scheme to the Danish Tax Agency.
To be able to report this information, we need to know your tax identification number.
What is a tax identification number?
It is a number that is used to identify the individual taxpayer. If you lived in Denmark, your Danish CPR number would be your tax identification number.
In other countries, you have special tax identification numbers, which are only used in connection with tax. These are often called TIN, which stands for Tax Identification Number.
You can get help on how to find the tax identification number in the country where you live on the OECD website.
You can send us your tax identification number by filling in our contact form via the button below and doing the following:
- Select the "Medlem (privatperson)" field.
- Select the "En pensionsrådgiver" field and press the "næste" button.
- Select the topic "Skatteidentifikationsnummer (TIN)", fill in the remaining fields and press the "send" button.
Please note that this does not apply to you if you have savings in a § 53A scheme.
If you live abroad and are not fully taxable in Denmark, you may be exempt from paying tax on the returns from your pension assets (PAL tax). However, you must inform the tax authorities (SKAT) yourself.
If you receive an exemption certificate from SKAT, you must subsequently send it to us so that we can exempt you from the PAL tax.
You can apply using form 07.058 on skat.dk.
Ordinary pension contribution scheme
If you choose to take out your pension savings before you reach the age of retirement, the current taxation rate is 60 %.
Ordinary pension contribution scheme with taxation
If you choose to take out your pension savings before you reach the age of retirement, you do not pay any taxes.
Contact AkademikerPension
Please do not hesitate to contact our pension advisors:
- Phone: + 45 39 150 150.
- Email: medlem@akademikerpension.dk.
Our opening hours are:
- Monday through Thursday from 10am to 4pm.
- Friday from 10am to 3pm.