If you have savings with the Holiday Allowance Fund, you must have been an employee during the period from 1 September 2019 to 31 August 2020. Your savings consist of the holiday pay you have accrued during that period and amount to up to five weeks’ holiday pay. However, if you received early payouts of your accrued holiday allowance funds in autumn 2020, your savings will only amount to approximately two weeks’ holiday pay.
A return is credited to your savings account once a month. You will be able to withdraw your savings when you leave the labour market permanently, but you can also choose to leave them in the account for as long as you wish.
Some extra savings
The accrued holiday allowance funds are in The Holiday Allowance Fund, which is managed by LD Pensions, the organisation that also manages the Cost-of-Living Allowance Fund. The holiday allowance funds are held as a pension sum that grows over time, as you share in LD Pensions’ profits.
Part of the administrative costs are covered by employers. This means that the costs of having a savings account are very low.
LD Pensions' management of the holiday allowance funds must be of the greatest possible benefit to the employees. This means that, when investing the funds, the aim must be to ensure a satisfactory level of security, to maintain the real value of the funds, and to achieve the highest possible return.
