Just 3 per cent of Danish savers would put the money from excess tax payments, which were paid out in Denmark last week, into their pension savings, a survey of 1,000 Danes from the Sampension community has revealed.

It found that, in comparison, almost half (49 per cent) of respondents said they planned to put the money in the bank, while fewer than one in three (29 per cent) said it would be used for consumption.

Meanwhile, 16 per cent responded that they would use the money to pay off debt, 12 per cent said that the excess tax should be spent on "other things," and 8 per cent answered, "I don't know."

Sampension community chief advisor, Helle Dalsgaard, argued it was "natural" that many Danes did not have extra payments to their pension savings at the top of their priority list.

"The financial markets are currently experiencing great turmoil, and we have, for example, seen shares take some drastic plunges on several occasions.

"However, it is also important to remember that pension savings are typically long-term investments and that savings in the long term will not be affected by short-term unrest, such as we are currently experiencing," he continued.

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