Part of the holiday allowance has been paid into the Holiday Allowance Fund for investment. Another part will remain with the employers for a shorter or longer period.
It is our responsibility to ensure that employees receive their holiday pay, whilst also allowing employers to retain this pay for as long as necessary – though only until the employee leaves the labour market, at which point payment must be made.
At the start of 2021, employers had reported holiday allowance totalling approximately DKK 108.3 billion. In connection with the early disbursement in autumn 2020, approximately DKK 56 billion was paid out. In spring 2021, there will also be a new early payout with the same payout profile; following this, there will be DKK 20 billion in the Holiday Allowance Fund, some held by employers and some in the fund itself. How the assets will be divided between the two parties remains uncertain.
Scenarios for the investment strategy
Employers’ decisions will have an impact on the investment strategy of the Holiday Allowance Fund. We will therefore be considering various scenarios, as there are no clear indications as to how employers will handle the holiday allowance – that is, how many employers will choose to pay the holiday allowance into the Holiday Allowance Fund, and how many will choose to retain the funds within the company.
Investments in 2020
We have received the first approximately DKK 10 billion of the expected assets totalling around DKK 100 billion in 2020. This payment stems from contributions made to FerieKonto between 1 September 2019 and 31 August 2020. An investment strategy for these assets will be drawn up.
