Danish pension company PFA has published its strategy for the years leading up to 2030, in which it is targeting DKK 1,100bn in customer assets under management.

Currently, PFA manages DKK 760bn on behalf of its customers, made up of 1.3 million private customers and 7,000 corporate and organisational customers. Its goal of managing DKK 1,100bn by 2030 equates to an annual growth rate of 8.5 per cent. If achieved, customer funds would have doubled since 2022.

However, PFA noted that significant capital losses in the financial markets could challenge whether it will be possible to achieve its target during the period.

"Our ambition is to expand our position as the preferred and market-leading pension company in Denmark, creating maximum value and security for our customers and thus society through scale and efficient operations," PFA CEO, Ole Krogh, said.

In addition, its new strategy intends to create a larger and stronger customer community where profitable growth, technology, and a continued focus on simple and efficient operations will lead to lower prices, better service and better and simpler solutions.

Furthermore, PFA said that over the coming years, it will invest significantly in technology, artificial intelligence and new IT systems to reduce operating costs while improving quality.

It also revealed that this could require taking on additional staff to meet the demands.

Its ambition is to digitise processes that do not require personal contact, thereby creating more space for PFA employees to spend more time on personal service within finance and health, where customers need personal contact.

"We need to work smarter and use technology to make it easier and more attractive to be our customer. At the same time, we will use scale and efficiency improvements to lower prices and create room for continued investment in new solutions," Krogh explained.

Indeed, a specific target is to reduce customers' investment costs by an average of between 8 and 15 per cent over the strategy period.

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