In 2025, LD Pensions delivered positive returns to its nearly 1 million members. For members, this meant an attributed return of 8.0% in the Employees’ Holiday Allowance Fund and 6.2% in the main pool, LD Discretionary, of the Employees’ Cost-of-Living Allowance Fund. This is set out in LD Pensions' annual report for 2025, which is published today.
The solid returns in 2025 more than met expectations and have once again bolstered members’ savings, despite a year of significant volatility in the financial markets.
At the end of 2025, the total assets in LD Pensions stood at DKK 46.0 billion, which was higher than expected. This development is primarily due to strong investment returns.
High value added over three years
High returns over the past three years have resulted in significant growth in value for members in both funds. In the Employees' Holiday Allowance Fund, average savings have increased by 9,600 kr. over three years after costs and pension return tax, corresponding to a total increase in value of 31.9%. For members of the Cost-of-Living Allowance Fund, average savings over the same period have risen by 13,900 kr., corresponding to a value increase of 23.2 per cent.
Targeted efforts in the area of responsible investment
In 2025, LD Pensions continued its focused work on responsible investment within a more complex and politically charged landscape. The need to strengthen Europe’s defence capabilities led to a relaxation of the exclusion criteria for European arms companies, whilst the criteria relating to human rights and oil and gas extraction were tightened. At the same time, the carbon footprint was reduced across several portfolios.
Key figures from LD Pensions' annual report 2025
LD Pensions
- Total members’ assets of DKK 46.0 billion.
- Profit after expenses and pension return tax of DKK 2.8 billion, comprising DKK 1.6 billion in the Employees' Holiday Allowance Fund and DKK 1.2 billion in the Cost-of-Living Allowance Fund.
- Return on investment of DKK 3.1 billion, comprising DKK 1.7 billion in The Holiday Allowance Fund and DKK 1.4 billion in The Cost-of-Living Allowance Fund.
The Holiday Allowance Fund
- Member assets of DKK 23.3 billion.
- 625,000 members.
- Attributed return after costs and pension return tax of 8.0%.
The Cost-of-Living Allowance Fund
- Member assets of DKK 22.7 billion.
- 324,000 members.
- The main fund, LD Discretionary, achieved an attributed return of 6.2% after costs.
- LD Global Equities achieved a return of 6.6 per cent, LD Environment & Climate 2.4 per cent, LD Danish Equities 10.6 per cent and LD Bonds 2.7 per cent.
