Denmark's PFA achieved "record numbers" of premiums and deposits in 2024 despite market turbulence.

PFA's premiums grew to over DKK 61bn for the first time in its history, while total contributions were DKK 61.3bn compared to DKK 52.5bn in 2023, the previous record year — marking a growth of 16.8 per cent.

In 2024, PFA also added 1,208 corporate and organizational customers, an increase from 901 in 2023. The net addition increased annual payments of DKK 665 million.

These gains meant that in 2024, PFA's profit before tax and profit sharing with customers was DKK 2,471 million, compared to DKK 1,620 million in 2023.

PFA CEO, Ole Krogh Petersen, credited the improvement to upgraded and simplified operations, a large influx of customers in recent years, and an improvement in the investment return on the capital base due to positive financial markets.

In the past two years alone, payments into PFA have increased by DKK 15bn, corresponding to over 30 per cent.

"PFA's customers also received one of the pension industry's best investment returns in 2024 and have now received returns at the top of the commercial pension market over the past five years, when the markets have gone up and down, and we are pleased with that, as it gives customers financial security," continued Peterson.

"I also note that we have very high growth in payments of 16.8 per cent, and for the first time in PFA's history, payments are around DKK 61bn. This is due to a large influx of new customers and PFA's existing corporate and organizational customers, who are successful and growing and want to stay in PFA. The customer community and our business have grown significantly and profitably in recent years, which can be seen in the bottom line. Overall, we are very satisfied with our results and the value we have created for our customers in 2024."

---