DENMARK - PensionDanmark and the Danish construction industry association Dansk Byggeri have teamed up to offer a new pension product.

The new EjerPension product will enable employees to continue in their own companies' superannuation fund, if they want.

It will offer workers similar benefits to those employed on a contract basis, a statement said.

"PensionDanmark already manages labour market-pensions for about 500,000 wage earners, under this 150,000 wage earners employee in the building business. That gives us a number of large-scale operational advantages, which really has advantages for Dansk Byggeri's members," said PensionDanmark's Torben Möger Pedersen.

Dansk Byggeri was formed with the merger of the Construction Industry Employers' Association and Danish Contractors' Association in 2003. It covers around 6,000 companies.

In August PensionDanmark, the €7.3bn Danish pension fund, said alternative investments helped limit the negative returns in the first half.

It posted a -1.5% return for the period, 0.3% better than the strategic benchmark.