Just 14 per cent of Danes are planning to contribute extra to their pensions before the end of the year, according to an Epinion survey conducted on behalf of Sampension.

The survey of 1,000 Danes also found that 79 per cent have no plans to make extra contributions before the turn of the year, although 5 per cent said that they had made extra contributions to their pension earlier this year. The rest answered ‘don't know’.

Commenting, Sampension chief adviser, Helle Dalsgaard, said: "Danes' pension contributions have generally increased significantly this year. In addition, voluntary pension contributions have also gained momentum, and this will be further accelerated in the coming period, when many Danes plan to make additional contributions to their pension savings on their own. This means that 2024 could very well be a record year for Danish pension contributions.”

New figures from Sampension show that a record number of customers have made extra contributions to their pension savings with Sampension in the first 11 months of this year, and that the number of customers with extra contributions has increased by 30 per cent over the past five years.

"If you're in a financial bind during the expensive Christmas period, it might be a good idea to consider putting extra money into your pension savings before the New Year. It's all about the many little things that make a big difference. Even small amounts paid in now can make a significant difference to your savings over time, which means that you will ultimately have more to spend in retirement," says Helle Dalsgaard.

Calculations from Sampension show that if a 35-year-old contributes DKK 3,000 to their pension at the age of 35, this extra contribution will mean that their savings will have grown by approximately DKK 15,800 by the time they retire. If the 35-year-old deposits DKK 5,000 or DKK 10,000 now, the savings will be approximately DKK 26,300 and DKK 52,500 higher at the time of retirement than otherwise.

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