Danish pension provider Velliv has reported a 23.5 per cent increase in pension contributions during the first nine months of 2026, reaching a record DKK 31.4bn.

The provider's financial results for the period ending 30 September 2026 revealed that total contributions had increased from DKK 25.5bn during the corresponding period in 2025, exceeding DKK 30bn after the third quarter for the first time.

Velliv attributed the growth to increased demand from new customers and improved retention of existing customers, despite heightened competition across Denmark's pension and healthcare markets.

The provider also reported higher total investment returns for customers, reaching DKK 21.7bn in the first nine months of 2026, up from DKK 15.9bn over the same period last year.

Velliv highlighted the diversified structure of its index-based investment products, which combines exposure across different markets with currency hedging to reduce the impact of exchange-rate fluctuations.

The provider claimed this approach allowed it to offer customers a combination of relatively low investment costs and competitive returns.

Despite higher contributions and customer investment returns, Velliv reported that rising interest rates negatively affected its financial performance.

Profit before tax stood at DKK 167m for the first nine months of 2026, while profit after tax reached DKK 143m.

The results included allocating DKK 352m to customers through the VellivKroner programme, with pre-tax profit before this allocation at DKK 520m.

Velliv explained that rising long-term interest rates had led to negative investment returns on its own capital and in its sickness and accident insurance business, weighing on overall profitability.

Velliv managing director, Kim Kehlet Johansen, welcomed the growth in contributions and the performance of its investment products, despite the challenging market environment.

"We have an attractive customer offering in a pension and healthcare market with very tough competition.

"It is therefore pleasing that payments have exceeded DKK 30 billion for the first time after the third quarter. This shows that customers have confidence in Velliv and in the value we create for them."

Johansen also highlighted the performance of VækstPension Index, which he said continued to deliver returns among the highest in the market.

However, he acknowledged that market conditions had affected the provider's financial results.

"The result for the period is negatively affected by the significant interest rate increases in the quarter," he added.

Looking ahead, Velliv said it would continue investing in its pension and healthcare offerings, while maintaining a focus on operational efficiency and cost management amid increasing competition.

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