Danish labour-market pension fund PenSam Liv reported growth in gross contributions of 5.4% in the first half of this year from the same period last year, as an increased number of pension savers transferred their plans to the provider.
In absolute terms, gross contributions at the PenSam division rose to DKK2.67bn (€358m) in the January-to-June period, DKK138m more than the level seen at the same point in 2014, the pensions group reported in interim results.
It said this rise was due in particular to more people transferring their pension schemes to PenSam.
The return before tax on traditional with-profits pensions fell to 1.4% for the six-month period, down from 5.6% the same time last year, while the pre-tax return on capital slipped to 3.2% from 5.4%, according to the interim data.
Chief executive Helen Kobæk said: “The more active investment strategy has once again shown its worth by securing good pensions for customers.”
PenSam produced outperformance in almost all asset classes, she said.
“This,” she added, “gives us reason to be optimistic about the years ahead.”
PenSam Liv’s solvency coverage fell in the period, to stand at 215.3% at the end of June 2015, down from 233% 12 months before.