Danish labour-market pension fund PensionDanmark has reported a 23% increase in contributions in the first nine months of this year and a 184% rise in investment returns.

Publishing interim financial figures for January to September, the pension fund cited active risk management and stable alternative investments as factors behind the investment return, which rose to DKK13.7bn (€1.8bn) before tax, up from DKK4.8bn in the same period last year.

Pension contributions, meanwhile, rose to DKK9.7bn from DKK7.9bn over the same timeframe.

It said the increase in pension contributions compared with the previous year was particularly due to the growth in transfers from other pension schemes.

Pension payments rose slightly to DKK3.7bn in the period from DKK3.5bn.

Torben Möger Pedersen, PensionDanmark’s chief executive, said: “We are very pleased with the year’s provisional results, which are not a one-off.”

He said the fund had managed to make a good, stable return for its members for a number of years.

“This is particularly because of active management of the equity and bond risk, combined with the fact our investments in stable alternatives such as property and infrastructure are making a solid contribution to the total return,” Möger Pedersen said.

The investment return corresponded to a percentage return on members’ savings of between 8.9% and 9.2%, depending on their age.

In the same period last year, the return had been between 1.5% and 5.6%.

Returns have increased further since the end of the third quarter, to between 10% and 10.2%.

Total assets grew by 16% to DKK170bn at the end of September from DKK146bn at the same point in 2013.

Membership increased to around 660,000 from 642,500.