LD Pensions manages two separate economic entities and thus two groups of members
One group that includes “the frozen cost-of-living allowances” and one group, which includes the holiday allowance. Both entities are by law characterised by the fact that it is not possible to invest additional funds.
Members with frozen cost-of-living allowances
These are the members, who have means, which derive from payments of the “frozen cost-of-living allowances” (dyrtidsindbetalingsloven) paid from the Danish state to LD Pensions, cf. the LD Pensions Act no. 1109 of 14 October 2014, inclusive later amendments). The means belong to a limited group of members, who were employed in Denmark from August 1977 to August 1979. There is no influx of new members, and the existing members cannot deposit additional funds.
Members with holiday receivables
In 2018 LD Pensions was chosen, by Act no. 58 of 30 January 2018 regarding management and administration of holiday receivables, as manager of Lønmodtagernes Feriemidler (the Employee’s Fund for Holiday Receivables), which constitutes a separate financial unit in LD Pensions. The means derive from earned holiday rights, which will be frozen in a fund and will be disbursed upon retirement. The means belong to the employees, who have earned holiday allowance from 1 September 2019 to 31 August 2020. After 31 August 2020, there will be no new influx of members, and existing members cannot deposit additional funds.
Number of members
In 2019, we manage 550,000 member accounts and assets amounting to approx. DKK 36 billion. The numbers will increase when the holiday receivables come under management at LD Pensions. In 2021, we expect that our management will comprise of approx. 3 million members with assets amouing to a total of approx. DKK 130 billion.