Danish pension company Velliv achieved returns in the third quarter of 2024 of between 3.1 per cent and 3.6 per cent on its VækstPension products for a typical customer with 15 years to retirement and with medium risk, its financial statement has revealed.

The company said that VækstPension Index returned 3.6 per cent, while VækstPension Aktiv achieved a return of 3.1 per cent in the third quarter.

Velliv said that 2024 yielded high returns for pension customers.

So far this year, VækstPension Aktiv has returned 9.6 per cent and VækstPension Index has returned 11.7 per cent, which was among the highest returns in the market.

Velliv said its earnings for the quarter were “satisfactory” and totalled DKK 208m after tax compared to DKK 108m in the same period last year.

For the full year, profit after tax totalled DKK 511m compared to DKK 641m in the same period in 2023. The company explained that this was due to one-off income of around DKK 200m in 2023, compared to around DKK 100m this year.

In addition to this, the company’s deposits increased in the third quarter by 4 per cent, to DKK 8.4bn, compared to the third quarter of 2023.

Velliv said it has again experienced increased interest from the market due to strengthened value proposition and the company's focus on individual counselling on both savings and health.

Deposits for the year totalled DKK 25.2bn at the end of the third quarter, which it said was “largely on par” with the previous year.

"Velliv came out of the third quarter stronger as a result of the updated VækstPension Aftryk and the upcoming establishment of our own health insurance,” Velliv CEO, Kim Kehlet Johansen, said.

“I am pleased with a return at the top of the market in the third quarter across our broad savings portfolio, and that customers are utilising the entire savings range through their active choices.

“Combined with Velliv's focus on the individual customer and competitive products, this strengthens our competitiveness."

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