A record number of members in the Sampension community have made additional pension contributions this year, the provider has revealed.

Some of the schemes under the Sampension umbrella include the Pension Fund for Architects and Designers, the Pension Fund for Agricultural Academics and Veterinary Surgeons, Sampension Livsforsikring A/S and the Pension Fund for Technicians and Bachelor of Engineering.

In the first six months of the year, around 10,600 members voluntarily contributed extra to their pension savings. This is the highest number ever and an increase of 10.3 per cent compared to the same period last year. Over the past five years, the number of members making extra contributions has increased by 41.6 per cent.

"The fact that a record number of people have chosen to make extra contributions to their pension savings this year should not least be seen in the light of the fact that wages in Denmark are rising sharply and that many people have experienced more money to spend. However, the development is also a continuation of a longer-term trend,” Sampension customer advisory manager, Anne-Louise Lindkvist, said.

“For a number of years now, we've seen that Danes are increasingly prioritising putting extra money into their pensions, which has also been the case in recent years, which have otherwise faced financial headwinds from high inflation, among other things".

Sampension figures reveal that young people, in particular, are saving more for their retirement. The number of customers under the age of 35 who have made extra contributions to their pension savings with Sampension has increased by 13.4 per cent in the first half of this year compared to the same period last year and by a total of 100 per cent over the past five years.

"It's a remarkable development we've seen among young people in recent years. Because historically, retirement hasn't generally been something they were particularly interested in, which is natural enough but that's starting to change. We now see that they are increasingly interested in retirement and that many more are making extra contributions to their pension savings,” Lindkvist added.

Furthermore, the figures also show that the number of female customers who have made extra contributions to their pension savings with Sampension has increased by 12.9 per cent this year and by 48.8 per cent over the past five years. In comparison, the number of male customers making extra pension contributions has increased by 7.1 per cent this year and 33.2 per cent over the past five years.

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