Four in 10 (40 per cent) Danish people have not checked their pension scheme this year, a survey by Epinion for Sampension has found.

More than half (56 per cent) of respondents had checked their pension in 2023, while 22 per cent looked at their pension last year.

Over one in 10 (11 per cent) said they had checked their pension several years ago, while 7 per cent had never checked their pension, and the remaining 4 per cent said they did not know.

"Not keeping up with the pension scheme can have consequences in several ways,” commented Sampension head of market and customer advice, Anne-Louise Lindkvist.

“If you don't have control over whether you are saving enough to be able to have the retirement lifestyle and the retirement date you dream of, you risk an unpleasant surprise when that time comes.

“The same applies if you have not ensured that the insurance in the pension scheme suits your needs.”

The survey also found differences based on gender, with 66 per cent of men checking their pension this year compared to 45 per cent of women.

Lindkvist said it was particularly important for women to pay their pension some attention, as their pension savings are typically smaller than men’s and usually need to last for several more years.

"This means that, other things being equal, they have less to do well as pensioners,” she continued.

“But here the women themselves can contribute to strengthening pension savings in the long term, for example by making sure they don't have pensions in multiple places, which is expensive in costs. However, it requires that they follow through on their pension.”

Differences in pension engagement by age cohort was also highlighted in the research, with 65 per cent of Danes aged between 56 and 65 checking their pension this year, compared to 53 per cent of both 35-55 year olds and 18-34 year olds.

"It is worrying that for many Danes who are approaching retirement age, it has been a long time since they last checked their pension,” Lindkvist stated.

“For that group, it is particularly important to have an up-to-date and realistic picture of what financial reality is expected in retirement, as they have fewer years to manage to increase their savings if there is a need for it.”

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