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Annual report 2015

From 2012 the annual report is only published in Danish.

The annual report for 2015 can be found via the link below

Årsrapport 2015

Summary of LD's annual report 2015.

About the members

2015 has largely been devoted to the concept tax relief. In connection with approval of the Finance Act, the Danish parliament approved to bring forward the tax revenue from LD by offering a tax relief to all LD pension eligible members. The tax relief is given as a lower fee in connection with disbursement of the account, or if the member's conventional LD-savings account is converted into an LD-age savings account.

Over 300,000 members obtained a total tax relief of 740 million DKK, and LD transferred more than 10 billion DKK to the Treasury. The tax relief is also offered the coming birth cohorts of 60-year-olds. All members will be able to obtain a tax rebate.

The savings of the members were increased as a result of a solid return on investments of 3.3 billion DKK in a challenging financial year. The strong investment returns were primarily created in LD Discretionary. LD Discretionary is LD's flagship comprising more than 90 percent of the assets, and is used by the members, who wish to leave the investment strategy to LD. LD Discretionary achieved a very satisfactory return of 5.4 percent. The return was higher than the market return compared to the benchmark of the pool. The outperformance is due to an overweight in equities with a highly satisfactory return of 17.2 percent, which is much higher than the stock market's overall development.

About LD

Harald Børsting, who had been LD’s chairman since 2007, resigned from the Board in December 2015. He was replaced by LO's newly elected President Lizette Risgaard. After two years on the board, Martin Teilmann, Director for Akademikerne, resigned on 1 April 2015 and was replaced by Finn Larsen, chairman for Akademikerne.