Sampension has won the contract to provide pension services to around 11,000 part-time Danish military pension scheme members from rival Nordea.
The labour-market pension provider and the soldiers’ trade union the Army Constables and Corporals Association (HKKF) announced the deal, citing Sampension’s capacity to provide advice to individuals as well as the superiority of its data platform as reasons for the win.
Pensions for the 11,000 new customers will come under Sampension’s administration and investment management from 1 January 2020, alongside 2,000 long-term employed constables and corporals who joined the scheme from Velliv (formerly known as Nordea Liv & Pension Danmark) on 1 January this year.
Johnny Thomsen, chairman of the board of directors of the HKKF Funds, said: “One of the really decisive reasons why we have chosen Sampension is that the agreement gives us access to a competent corps of advisers who can help our members with pension issues.
“At the same time, we get a significantly better information platform, which will give members a better overview of their pensions.”
A spokeswoman for Sampension confirmed to IPE that the customers’ existing pension savings would be transferred to the pension fund, but declined to give a value of the assets.
This does mean, however, a large increase in Sampension’s public sector membership. It catered for 50,000 public sector workers, not including the second tranche of army staff. In total, the pension fund administrator had around 278,000 members at the end of 2018.
Sampension chief executive Hasse Jørgensen said his firm had been chosen for its competencies including low costs, high returns, efficient service and good advice.