Over half (53 per cent) of Danes have not checked their pension scheme this year, according to a survey conducted by Epinion on behalf of Danish pension provider Sampension.

The survey of approximately 1,000 Danes also found that the number of people who had checked their pension in the past year varied by gender.

Over six in 10 (61 per cent) women had not checked their pension this year, compared to 45 per cent of men.

The survey also reported that almost one in three (32 per cent) Danes had never received advice about their pension scheme from their pension company or bank.

There were also a larger proportion of women (35 per cent) than men (29 per cent) who had never received pension advice.

Additionally, the survey found that of those pre-retirement age (56-65-year-olds), 40 per cent had not checked their pension this year, while 16 per cent in this age group had never received pension advice.

Sampension head of advisory services, Helle Dalsgaard, said those Danes approaching retirement have good reason to spend some time on their pension, to get a realistic picture of when they can retire and what financial reality awaits them as a pensioner because they have fewer years to strengthen their savings if needed.

“Therefore, it is also worrying that many in this age group are not up to date on their pension, and that a large proportion of them have never received counselling," Dalsgaard continued.

"In addition, Danes close to retirement age can get significantly more to live on as pensioners if – with the right advice – they plan their pension finances well in advance.”

Dalsgaard also highlighted that despite progress in recent years, women's pension savings still lagged significantly behind men's in Denmark.

She emphasised that this was an issue as women’s savings must be higher than men’s as women generally retire earlier from the labour market and live longer than men.

“There is a great need for women's savings to be strengthened. Therefore, it is a good idea, especially for women, to keep track of their pension to a greater extent," Dalsgaard concluded.

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