One group that includes the cost-of-living allowance 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 in the Holiday Allowance Fund
In 2018 LD Pensions was chosen, by Act no. 58 of 30 January 2018 regarding management and administration of holiday receivables, as manager of the Holiday Allowance Fund, which constitutes a separate financial unit in LD Pensions. The means derive from earned holiday rights. 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.
Total number of members
More than 3 million employees were reported to the Holiday Allowance Fund. The early disbursements in autumn 2020 and in spring 2021 resulted in that more than 2.3 million employees withdrew up to five weeks' holiday allowance from the fund leaving approx. 900,000 employees in the Holiday Allowance Fund. Their holiday allowance will be administered and managed by LD Pensions.
Management will take place via an interlinked operation with the assets in the Cost-of-Living Allowance Fund for approx. 500,000 employees. LD Pensions will manage accounts for approx. 1.4 million employees.
