A record 240,000 pensions were transferred between providers in Denmark during 2025, with total assets of DKK 120bn changing hands, according to new figures from Insurance & Pension Denmark (I&P Denmark).

The data showed that both the number of transfers and the total value moved reached their highest level to date, marking a significant increase compared with previous years.

Pension schemes are transferred for various reasons, such as job changes, which often result in individuals joining a new employer-sponsored arrangement, while others choose to consolidate existing savings with a single provider.

In some cases, employers switch pension providers, prompting bulk transfers of members’ accrued benefits.

Commenting on the figures, I&P Denmark head of analysis, Andreas Østergaard Hartington, said the scale of activity in 2025 was notable.

“There are several reasons why pension schemes are moved between companies, and fortunately, we have a very well-functioning digital infrastructure that can transfer the many pension schemes.

"We have had an increase in the number of schemes and amounts transferred over a number of years, but the large increase in both the number and amount transferred in 2025 is remarkable,” he noted.

Of the total transfers recorded in 2025, around 90,000 were completed under the industry’s job change agreement, while approximately 150,000 were general transfers outside that framework.

Hartington claimed that the volume of activity reflected broader labour market trends.

“The many relocations are evidence of a high level of job mobility in the labour market, and it is also important that it is easy for employees to transfer their previous pensions to a new pension company," he suggested.

"This is regardless of whether this is because a workplace has found a new pension provider or whether you yourself want to pool your pensions.

“In any case, healthy and strong competition is important for the continued development of the pension sector,” argued Hartington.

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