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Tax and pension

In the following, we provide a brief overview of the tax rules applying to your pension contributions. The rules may differ depending on whether you make contributions through your employer or you do so yourself.

Contributions through your employer

Your employer deducts your contributions from your salary before tax. That way, you get a tax deduction right away, and you do therefore not need to report the amount on your tax return. If a proportion of your contribution is placed in a non-deductible pension or insurance scheme, this amount will be subject to tax through your tax assessment notice.

Sampension reports to the Danish Tax Agency

Every year, Sampension must report how much you and your employer contribute to your pension scheme. You can see the information under your personal tax information at skat.dk. You should always check that the Danish Tax Agency applies the information on your tax assessment notice correctly.

Labour market contribution

Contributions made through your employer are not subject to labour market contribution. We therefore deduct labour market contribution on your contributions and send the amount to the Danish Tax Agency.

Personal contributions

If you make contributions to your pension scheme yourself, either in the form of a lump sum or as monthly benefits, you may deduct the amount on your tax assessment notice subject to certain limits.

Sampension reports to the Danish Tax Agency

Every year, Sampension must report how much you contribute to your pension scheme. You can see the information under your personal tax information at skat.dk. You should always check that the Danish Tax Agency applies the information on your tax assessment notice correctly.

Contributions to other pension schemes (non-deductible)

If your pension scheme is comprised by section 53 A of the Danish Pension Tax Act, your contributions will not be tax deductible, but benefit payments will be tax free.

You will be liable to taxation on the return (accrued interest) during both the savings and benefit payment period. We will report the return to the Danish Tax Agency. The amount will subsequently be stated as capital gains on your tax assessment notice. To avoid a residual tax liability, you need to ensure that the accrued interest is included in your preliminary tax assessment.

If you get a negative return, we will inform you about what you should do.