As a general rule, you can withdraw your LD Savings at the earliest when you turn 60. LD Savings are paid out as a lump sum. Before the payouts are made, a government levy is deducted, as specified in section 14A of the Pension Taxation Act.
From 2015, it became possible to convert savings into an LD Retirement Savings scheme, which can later be withdrawn tax- and duty-free. This is achieved by bringing forward the payment of tax in accordance with the Pension Taxation Act. Members receive a tax credit when making the switch. LD carries out the switch on behalf of members, although members have the option to opt out of this.
Changes are occasionally made to the LD Act as a result of a desire to harmonise the regulatory framework for the financial sector. If you wish to obtain a complete overview of the current legislation governing LD, you will need to search on retsinformation.dk.Â
On retsinformation.dk, you can find, amongst other things, the full text of the LD Act.
On the Danish Financial Supervisory Authority’s website, you can also find notices relating to the Cost-of-Living Allowance Fund.
