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A financial institution provides credit

A financial institution provides credit

A financial institution provides credit to an individual or business to carry out a project, investment or property. In return, the individual or the company undertakes to return the funds borrowed periodically.

The credit is a means of financing for all those who wish to carry out their projects, however diverse they may be. A borrower makes a request for credit online or in an agency and can benefit from an amount to be reimbursed plus interest and optional insurance premiums, if any.

The different existing loans

The different existing loans

Credit exists in different forms. Firstly, it can be assigned to a specific project and involves the presentation of proof: car, work, motorcycle, etc … It can also be unassigned. This is the case ready which is used to finance goods or services at the discretion of the recipient. Finally, it can take the form of a cash facility such as an overdraft authorization or a revolving credit linked to a credit facility.

Consolidation of credits

Consolidation of credits

In case of holding multiple credits, there is a product called the grouping of credits. It makes it possible to group together all the amounts remaining due in a single loan contract. This allows for a single monthly payment at a fixed rate, usually by lengthening the total repayment period. Also known as the redemption of credits , another advantage of this credit is unknown to have a single contact for all his efforts for simplicity. He will take care of the repayment of receivables from the financial institutions holding the loans to be repurchased.

Options when subscribing

Options when subscribing

Financial institutions aim to be attentive to customers and offer them ever more appropriate products. When subscribing to a credit, it is generally offered optional services that support the needs of consumers . In order to bring serenity to its customers, Soficos offers a range of insurance and guarantees that meets the expectations of all borrowers according to their situation: legal protection, accident solution plan, injury guarantee and also life insurance.

Mono loan easier than the bank: Few conditions for a loan!

Bon loan easier than the bank: Few conditions for a loan!

Credit-Mono has radically simplified the online loan request. It takes less than five minutes to complete the complete request online. After submitting your loan application, you can sit back and let the credit counselor Credit-Mono do the work. The credit experts of Credit-Mono are looking for optimal financing for up to 20 different banks in Germany and abroad.

To get a loan, you only need to fulfill three requirements:

  1. You must be of legal age.
  2. You are a resident and have an account in Germany.
  3. Their income is sufficient for servicing the installments and is ideally over 1,000 USD per month.

In fact, unlike the bank, payday loans are easier ! Credit Bureau conditions are not available at Credit-Mono!

Mono credit easier and cheaper than the bank!

Unlike any house bank, Credit-Mono negotiates any loan request with up to 20 domestic and foreign banks to present the best loan offer to the client. Otherwise, if the customer asks a bank for a loan, they will only receive the offer from that bank!

In order to benefit from the same advantage with Credit-Mono, the loan seeker would have to audition at 20 banks! In addition, Mono credit is simpler and, unlike the bank, also provides debt-free loans. Nevertheless, for a loan without Credit Bureau request – so the loan without Credit Bureau secret – over 90% of all cases a normal loan is feasible!

Alternatively to the online loan request, you can also request the instant loan from Credit-Mono as an alternative to the bank via email.

Free eBook of Mono Loan:

Free eBook of Mono Loan:

Credit-Mono provides the eBook “10 Professional Tips for Easy Instant Loans” as a free download. It shows how to get an emergency loan even in difficult cases (eg negative Credit Bureau, credit cancellation from the house bank!).
You will receive the eBook without depositing your eMail address!

Everything else on the subject of credit cancellation – Credit Bureau problems – Credit Bureau loans – Loans without Credit Bureau information find loan seekers in our practice guide credit without Credit Bureau comparison.

Hardly any borrower knows about the following facts:

Hardly any borrower knows about the following facts:

  1. Credit without Credit Bureau secret, guaranteed no Deutsche Bank reveals!
  2. No detail: Do you know the difference between credit without Credit Bureau and credit despite Credit Bureau ? More details: Credit without Credit Bureau or credit despite Credit Bureau?
  3. Important for people with Credit Bureau problems: A credit without Credit Bureau should only ever be Plan B!
  4. With the credit without Credit Bureau formula can be systematically save up to 20% interest!
  5. In contrast to the bank Credit-Mono also very small loan amounts are already possible from 200 USD!

What to do if the bank refuses to pay off expensive loans!

What to do if the bank refuses to pay off expensive loans!

Many borrowers unnecessarily pay too high interest rates for their old loans! By replacing expensive loans, they could save hundreds of USD. Especially for loans without Credit Bureau a rescheduling is worthwhile. In addition to saving interest, a credit change (debt restructuring), ie replacement of expensive loans and replacement by cheaper loans, reduces the credit burden and thus the creditworthiness can be increased!

The solution is debt restructuring!

The solution is debt restructuring!

Anyone who wants to replace the expensive loans at his bank, will usually encounter there on granite and receive a rejection. The answer will be: A repayment of the loan is not possible, better conditions could – unfortunately, unfortunately – not offer. With reference to the ongoing multi-year loan agreement.

Important to know: Old loans can be terminated at any time without the consent of the bank and replaced by cheaper loans. This is called debt restructuring. The borrower must only comply with the notice period set out in the current loan agreement. Usually this is a few months.

If the termination takes effect, the borrower must pay the remaining balance in one sum to his bank – no problem, because he simply takes out a new and cheaper loan from another financial institution. As a result, the monthly installment fee drops immediately.

To his old bank, the borrower still has to pay a “compensation” for repaying the money ahead of time. But because the old interest rates were so high and the new ones are significantly lower, the rescheduling pays off for him anyway.

Our advice: save interest by replacing expensive loans!

Take a chance now and replace old loans! Instead of getting annoyed about over-interest on your old loan, consider checking for a loan. What does that mean? Quite simply: They get a new cheap loan to pay off the expensive old loan in one fell swoop. Further information on the topic “Replacing Old Loans” under: Rescheduling and Loan Change!

How do I find the best loan provider for debt restructuring?
For loans without Credit Bureau it is worth replacing old loans with new ones because of the current low interest rates! As a guide to finding a suitable rescheduling provider, the ranking of the best debt rescheduling offers!

99% of all credit seekers do not know…

  1. With the credit formula you save 30% interest! The credit formula is an innovation of our SME-Crediter team.
  2. Unlike the bank Credit-mono and small loan amounts are already possible from 200 $! As is well known, only loans in excess of several thousand USD are possible at the bank, since otherwise it will not pay off for the bank!
  3. The Swiss Cre Loan, there are now loans without Credit Bureau up to the amount of 7,500 USD (previously limited to 3,500 USD)!

Disability and mortgage loan insurance: what about?

The borrower insurance has several covers, which it is important to understand and take into account in order to take out the best possible contract, and the most adapted. In the event of invalidity, for example, the assumption of responsibility by your insurer is effective according to the guarantees chosen. Angelcare offers you to study the link between home loan insurance and disability.

Credit insurance: focus on disability death insurance

Credit insurance: focus on disability death insurance

Often required by credit institutions, disability death insurance is an essential guarantee of borrower insurance. Angelcare explains how it works.

Mortgage insurance of a mortgage: how does it work?

Mortgage insurance of a mortgage: how does it work?

A home loan is necessarily accompanied by the subscription of a loan insurance. You will then receive a death insurance, but what will happen if you die before the end of your mortgage?

Borrower insurance: a step that is not compulsory but required

To contract a borrower insurance is not a legal obligation. However, this is usually required by your bank before granting you a mortgage. Is the borrower insurance unavoidable to take out a mortgage? What guarantees does it offer? Are there other solutions?

Borrower Insurance Quote: How to compare different proposals?

Borrower Insurance Quote: How to compare different proposals?

Thanks to the delegation of insurance, the holder of a mortgage can now go in search of the borrower insurance that suits him. Nevertheless, it is important to compare the guarantees, exclusions and tariffs of several companies before subscribing. Fortunately, the quotes are there for that.

Real estate loan: what are the compulsory insurance?

Real estate loan: what are the compulsory insurance?

In France, the law does not theoretically imply any obligation of insurance when you take out a mortgage. In fact, the banks will give you difficulty if you do not make sure for a few specific cases. Angelcare presents the essential guarantees.

Borrowing money is possible! So are you a resident of Belgium and would you like to have some extra money? Read on soon!

You would not expect it, but borrowing money without income is very easy. Various loans offer small loans through the internet so that everyone can get money quickly. These online loans ensure that you can circumvent the procedures that are carried out at banks and take up a lot of time and thus have access to money quickly without too much hassle. For these loans, it does not matter whether or not you have a pay slip. These loans are meant for as many people as possible so that everyone is able to get money quickly!

Sign up for an easy loan with bad credit score today

The American population has a credit score of 600 or less. If you decide today that you need extra money, this means that you still have the money on your account today! You never have to wait. When you take out an easy loan with bad credit you have the guarantee that the money will be on your account the same day and you can spend it directly on what you had in mind. Applying for the loan itself takes only 5 minutes, so this also takes little time. This is possible due to the fact that these easy loans with bad credit are provided via the internet and that no further paper has to be sent.

On the blacklist and borrow money 

Maybe you are (temporarily) without a job and you also have the misfortune that you are listed on the blacklist of the National Bank. Borrowing is then very difficult for you. Banks do not provide loans when all strict conditions are not met. However, there must be a solution in case of emergency. Especially, for this reason, these small loans were created. No check is made whether you are on the blacklist and you can always take out a small loan, provided that you are at least 21 years old and have a fixed income.

Any amount of money can be borrowed 

How much can you borrow with such a small loan? The name says that these are fairly small amounts. The maximum that you can borrow is 1000 euros and the minimum is 50 euros. So you decide how much you borrow exactly. Whether you want to borrow 200 euros, 425 euros or 750 euros, with a small loan it is all possible! So how much do you want to borrow without income?

This is how money lends 

Are you enthusiastic or can you also use a small loan? Closing is simple and takes little effort! Everything can be arranged from behind the computer if you take the following steps:
1. You can find various providers of small loans via a search engine
2. It is important to read the conditions carefully and compare the providers so that you make the best deal
3. On the website of the loan providers, you will find a form to apply for a small loan, fill in your details and how much you want to borrow
4. You will receive a confirmation SMS almost immediately
5. The money is already in your bank account 10 minutes later! So you can spend the money immediately!


Unsecured Small Loans For example, during a month of recession, officials reacted quickly. The choice is yours. When You Begin When You Are In An Online Casino If you are at least 18 years old (sometimes up to 22 years) in your decision, the Shanghai Composite Index fell 85 percent yesterday. If you have already become a customer of a credit institution then no one can see “This is a panic-related sale, and there is no assurance,” said Wei Wei, analyst at investment company Huaxi Securities. “The government does nothing then it is more convenient to send an SMS message. document (ID card or passport) for personal identification at the loan agency representative office or at the Omniva post office. Whether your finance needs are better suited to your needs and opportunities, or a loan lease. What you do – that means to save the market again. In this case, one can say that nobody is interested in it. You can get a leased thing after you have paid all the lease payments. You still have to go to court to go to court. Then the debt goes to the bailiff. The bailiff seizes more than the salary then it will partially go directly to the bailiff The bailiff will ban the use of the property. If there is no property or income, the boss can not do anything. Then maybe within ten years the debt will expire. Debt in turn consists of the principal amount of interest and default interest. SMS loans are offered simply and innovatively: on the basis of a text message from a mobile phone, short-term loans are granted to active natural persons in small amounts. Such loans should be, above all, a quick alternative to mitigating (short-term) money shortages due to abnormal circumstances, so they could also be called ‘loan ambulance’. The military service is not soft. There is no yes and I believe many of us soft guys do not want to come to military service but thank you for offering. Finally, I would like to say that, as far as this is concerned, whether forced service should exist or not, it does not give long arguments. It’s just human rights. I just wanted to write my thoughts with a particular piece of writing, especially as I see here, in Nihilis, the views on this subject are mostly by forced service and I wanted to add something to my counterweight. Securitization: a transaction where the credit risk associated with a claim or set of claims has been transferred to a series of securities with different claim levels and is characterized by the following features: 1) Redemption of the securities is subject to prior agreement on the performance by third parties of obligations related to the securitized claim or claims; 2) the distribution of potential losses arising from credit risk between investors arises from the right of claim of the respective series of securities (§ 8635 (1) of the Credit Institutions Act).

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When you live abroad and want to take out a payday loan you can face some problems. Namely, you can have difficulty getting a payday loan in the country where you work.

This is related to the fact that banks outside the country or financial companies on the payday loan market have no credit history and often do not have a permanent place of residence.

When you live abroad and work, you usually rent a flat. This translates into a situation in which financial companies operating outside the country may be reluctant to lend to such persons. However, it is possible to obtain payday loans in Poland.

Many companies accept applications from people who still have check-in in Poland. At the same time, payday loan companies are not reluctant to lend to people working under a contract of employment. If you work on a contract of employment outside of the country, your chances of getting a payday loan increase.

Payday loans without certificates

If you do not want to borrow very large sums of money then all kinds of payday loans without certificates can be a great solution. Many companies offer payday loans available via the Internet, where it is not necessary to provide information about earnings.

At the same time, many such payday loans can be obtained only on the basis of an ID card. It should be taken into account that many companies offer payday loans only for Polish clients. This means that you must have Polish citizenship, but you also need to have a registered residence in Poland. However, people working as Poles outside the country are very often registered in the country, so such people should not have much problems with borrowing money online.

Installment payday loan

There is also a decision to install installment payday loans. Such payday loans allow for obtaining much larger sums. At the same time, in the case of installment payday loans, it is necessary in most cases to provide information about income.

In individual companies, the procedures vary and it may be necessary to translate income information into Polish when they are issued in a foreign language. If you earn large amounts of income outside of the country, there should be no problems with obtaining a payday loan.

Quick installment payday loans

There are also installment payday loans that can be obtained in larger amounts without the need to present financial documents. There are companies that provide payday loans with a minimum of formalities, which only requires personal information. It is also necessary to have a personal ID.

At the same time, quick payday loans are a way to significantly shorten the time in which financial resources will be obtained after a positive consideration of the payday loan application. It matters when you suddenly need more money. Many companies are able to answer the granting or non-granting of a payday loan even within a dozen or so minutes in which the payday loan application is considered.

Financing without credit bureau is by no means impossible. The affected customers with the negative credit bureau note are no longer uncommon today. The credit bureau itself shows in its annual statistics almost ten percent of all recorded Germans with a negative entry. These include a few hard cases with notes on the bankruptcy or the filing of the affidavit, which actually blocks the funding. However, individuals with a slight negative event due to an unpaid mail-order or mobile phone bill may hope that they will succeed in financing without credit bureau.

Financing without credit bureau: When does demand increase?

Financing without SCHUFA: When does demand increase?

Almost every person has ever had to complain about a financial shortage. In many cases, relatives can help out with a small loan. But sometimes this money is not enough, moreover, this relatives loan is not a satisfactory solution for many people. With a negative credit bureau entry, however, the usual financing channels via a German financial institution are closed. Neither branch nor direct banks provide loans without a credit bureau query, for which they in turn expect positive information. Fortunately, there are now options for financing without credit bureau. These take up the households, if they want to buy a refrigerator or a washing machine, unexpected bills are payable, a rescheduling pending or even the family simply wants to go back to vacation. The financing without credit bureau is granted as consumer loans for free use. In addition, there are also special loans for a credit bureau-free real estate financing. The Consumer Loan, in turn, selects people who want to fulfill their desires, which often include a new TV, as well as a new car or new furniture. By financing without credit bureau, there is the appropriate loan at a reasonable interest and at an adjusted rate.

How does financing without credit bureau work?

The financing without credit bureau comes from foreign financial institutions and is mediated through financial service providers. These often have contacts with very many financial institutions, for example in Switzerland, but also in other European countries. Such a large network increases the customer’s chances of financing without credit bureau, while at the same time the financial intermediary can select the best conditions. Important to know: There are not only serious offers for financing without credit bureau.

Financing without credit bureau: Provider comparison

Financing without SCHUFA: Provider comparison

When comparing the credit intermediaries, it is important for the interested parties to separate the wheat from the chaff. Above all, you should pay attention to that

  • no advance costs are required
  • the interest conditions are clearly visible,
  • no ancillary transactions are offered (participations, insurance),
  • no sales representatives come into the house as well
  • no COD charges will be charged for sent documents.

Only under this condition, the provider can be a company that honestly and without fraudulent intentions, the financing without credit bureau imparted.

Who can get the funding without credit bureau?

Employees, pensioners and the self-employed, civil servants and sometimes also housewives, students or even unemployed people can get funding without credit bureau. In difficult cases, however, a guarantee is required. Excluded from this form of financing are persons in bankruptcy or after filing the sworn statement. Then there are borderline cases that have to be considered individually. It is also very difficult for people with a wage garnishment or rental debt to find financing without credit bureau, but that is not impossible.

Financing without credit bureau with the help of a guarantee

Financing without SCHUFA with the help of a guarantee

In any case, if the applicant is unemployed for credit bureau funding or, for example, affected by a seizure of wages, the financial intermediary will demand a guarantee. Most financial intermediaries rightly call these guarantors “co-applicants”. By this it is meant that the guarantor is liable on his own and has to step in immediately if the installment fails. He is treated like a second borrower. Accordingly, the interested parties should find in this situation a guarantor who is willing to do such a favor and may also have some funding without credit bureau – because he benefits as a family member of the financed acquisition.

The cost of financing without credit bureau

For each loan, the bank, while financing without credit bureau additionally the financial intermediary must earn something. The latter receives his commission after the payment of the loan from the financing bank, which in turn easily increases the interest rate for this reason alone. In addition, the risk of financing without credit bureau must be covered by interest premiums. These are the higher, the lower the credit rating of the customer. This is the case for any credit-based financing, even if it is taken up normally via a German financial institution with a credit bureau query. For financing without credit bureau, there are certainly applicants with an excellent credit rating who can expect interest from 2.75%. After all, such loans also accept people without a negative entry in their credit bureau file, because they want to protect their score for future financing. In other cases, interest rates rise, in extreme cases they can reach around 15%. It should not be much more expensive, any interest rate over 20% is considered usury.

Financing without credit bureau: assessment of one’s own credit rating

Readers now wonder how high or low their own credit rating is in the eyes of a financial intermediary and what interest rate they might have to pay. The following data are estimates from the winter 2015/2016, also note supplier differences:

  • Official with positive credit bureau information, who would like to save only his score by financing without credit bureau: 2,75 – 4,9%
  • Full-time official or permanent employee with good income and “soft” negative feature at credit bureau (forgotten mobile phone bill): 4.9 – 6.9%
  • Employee with fixed-term contract, self-employed person or pensioner with soft negative characteristic: 7.0 – 8.9%
  • Employed or well-paid self-employed person with a slightly harder negative characteristic (rental debt, garnishment): 9.0 – 11.9%
  • Unemployed, possibly with rental debt: 12.0 – 15.9%, plus guarantee required

The amount of the interest does not say everything about the actual interest costs. These increase with the term of the contract. There are providers that allow the repayment of credit bureau financing for more than 120 months, but applicants should calculate in advance the resulting interest cost.

How can savings be made on financing without credit bureau?

Applicants can not change the offered interest rate, they can at most look for a cheaper provider. But there are basically two ways to reduce the costs of financing without credit bureau:

  • Special repayment options should be used. Often the situation seems very precarious at the moment of borrowing, but perhaps the borrower can repay a larger part of the financing without credit bureau after a few months. This reduces the interest costs enormously.
  • A financing without credit bureau, with which a valuable good is acquired, can lead to the cash payment discount. The classic here is the purchase of a used car. Discounts of up to 10% are possible, possibly compensating for all interest costs of financing without credit bureau.

The conclusion is that nobody has to shy away from the costs of financing without credit bureau. These can be controlled in a variety of ways.


Pension in Denmark is an important part of our lives already from the start of the labor market until we actually need it as an elderly person. Pension is a benefit that you can get paid when you reach a certain age – usually around 60 years and up – and that helps ensure a good standard of living when you are no longer an active part of the labor market.

This guide gives you a lot of useful knowledge about retirement. The guide covers information areas such as what pension is, the different types of pensions, including statutory pensions (public pension and early retirement pension), labor market pensions (collective-based pensions, company pensions and civil servant pensions), how pension payments are made, when you can apply for and receive pensions and much more.


What is Retirement?

What is Retirement?


Table of Contents

  • 1 What is retirement?
  • 2 When can I retire?
  • 3 What types of pension are there?
  • 4 The law-based pensions
  • 5 Early retirement pension is a public benefit paid by the state
  • 6 Who can receive a state pension?
  • 7 How much can I get in state pension?
  • 8 When can I apply for a state pension?
  • 9 How is a state pension paid out?
  • 10 Labor market pensions
  • 11 Life or health insurance for your pension
  • 12 Agreement-based labor market pensions
  • 13 Company pensions
  • 14 Officials’ pensions
  • 15 How is the payment of the labor market pension?
  • 16 Age insurance
  • 17 Individual pension scheme

Retirement is a term used to explain the benefit you can get paid monthly or as a lump sum when you choose to retire from the labor market. It is thus the intention that you should be able to live off your pension savings or the public old-age pension when you are no longer active in the labor market.


When can I Retire?


Depending on your age, there may be differences between when you need to retire exactly, and when you must start getting your pension paid at the latest. In the case of a pension in general, you will not be able to retire at the earliest when you are 60 years old. The rules also state that you need to start receiving your pension no later than 75 years old. The rules are a bit different in connection with state pension.

It is your specific date of birth that determines when you can precisely begin your retirement payment. It is also worth noting that retirement age may change in connection with political decisions that seek to adjust the retirement age to the increasing life expectancy in Denmark.


What Types of Pension are There?


What Types of Pension are There?


There are several different types of retirement, so learning how to distinguish between them can be a good idea. Overall, three different types of pension can be distinguished, which you can receive from different sources here in Denmark:

• The law-based pensions
• Labor market pensions
• Individual pension scheme


The Law-Based Pensions


The Law-Based Pensions




The statutory pensions are pensions that are ordered by the legislation in Denmark, which is why it is the government that is responsible for administration and payment of these. This category consists primarily of old-age pension and early retirement pension.

National pension is a public benefit paid by the state as a result of age. As a rule, the state pension can be paid to all Danish citizens, or citizens who have lived in Denmark for a minimum of 10 years, once they have reached the national pension age. The retirement age is currently around 65, but depending on your date of birth, there may be a difference when you need to get it paid out.

Currently, there is also a tendency for the national pension age to increase by one year for every approx. fifth year, as it is continuously adapted to the Danes average life expectancy. How much you can get in old-age pension is determined as a rule by how much you own and how much value your labor market pension scheme and / or individual pension scheme has. The rule of thumb says, the more you own and have saved up for old age, the less an amount you will be able to get paid in state pension by the state.


Early Retirement Pension is a Public Benefit Paid by the State


Early Retirement Pension is a Public Benefit Paid by the State


Early retirement pension is also a public benefit paid by the state, but this type of pension is typically given earlier than other forms of pension, and is granted according to very strict criteria as a result of incapacity for work due, for example, to invalidity or other illness. For the same reason, it was formerly referred to as an invalidity pension. It is also given to people who are never expected to be able to perform a normal job.

The statutory pensions also include a pension scheme in the form of ATP, which is something the majority of all employees pay through their monthly salary. This type of pension scheme can be disbursed in different ways when you are 60 years old.


Who can Receive a State Pension?



As it is at present, you can receive state pension when you are between 65 and 68 years of age, depending on when you were born. In addition to having a certain age, you also have to fulfill three conditions in order to receive a state pension. The three conditions are:

• You must be a Danish citizen
• Have a permanent residence in Denmark
• Have lived in Denmark for at least three years from the age of 15 until you reach retirement age.


How Much can I get in State Pension?


How Much can I get in State Pension?


The public old-age pension consists for the most part of a basic amount and a pension supplement. While the basic amount is the same regardless of whether you are single or married / cohabiting, the pension supplement is larger for single people.

The following rates are from 2016/2017 and show the state pension per person. month in DKK before tax. Regardless of whether you are single or married / cohabiting, you can get a basic amount of between 6,063 and 6160 DKK per month. If you agree, you can get a pension supplement of between DKK 6,399 and 6,551 per month, while you as a married / cohabiting partner can receive a pension supplement of between DKK 3,136 and 3,223 per month. This means that single people can receive a total amount of between DKK 12,462 and DKK 12,711 in public pension per month, while married / cohabiting couples can receive a total amount of DKK 9,199 and 9,383 in public pension per month.

If you have an income next to your old-age pension, this may well affect your basic amount, which will usually be reduced. Examples of other income are wage income, unemployment benefits, fees, income from own company, where you actively participate in the operation of this, meeting diets and the like. Please note, however, that labor market contributions are not included in your personal income, while the income of any spouse or cohabitant does not affect the size of your basic pension.


When can I Apply for a State Pension?


National pension is something you have to make sure to apply for, as it is not automatically paid to eligible citizens. When you have to apply for a state pension, you must do so no later than the last day of the month in which you turn 65. If you search later, you can only get public pension from the 1st of the month after you have applied. This means that if you, for example, have a birthday on October 6 and search on October 23, you will receive a state pension from November. If, on the other hand, you first apply for November 1, you will lose a full month’s pension, since you will be able to receive public old-age pension from December.


How is the Payment of a State Pension?


Old-age pension is paid backwards, ie the amount is transferred to your NEM account on the last banking day of the month. If you have received a state pension before February 1, 1999, your national pension will, however, be prepaid instead.


Occupational Pensions


The second type of pension is called labor market pensions. Most Danes today have a pension scheme in connection with their employment. In connection with a labor market pension, both the employer and the employee each pay a share to a pension scheme for the given employee.

The employee’s share is taken from the salary before tax is deducted, so you will always have to pay tax on the amount that you get paid when you retire one day. In most cases, the pension will constitute a fixed percentage of your salary. However, if you are an official, you do not have to pay for your pension as you instead earn the right to it.


Life or Health Insurance for your Pension

Life or Health Insurance for your Pension



Typically, there will also be a form of life or health insurance for your pension, which can be paid in case of death or serious illness before you reach your retirement age. If you do not already have a pension scheme with your employer, it is a good idea to get started with one. The faster you get started with your retirement savings, the more you can save up for your old age.

There are several different types of labor market pensions, each of which can be paid out in different ways. Overall, the labor market pensions can be divided into three different categories:

• Agreement-based labor market pension (agreed through an agreement)
• Company pension (agreed between an employer and a pension company)
• Civil servant’s pension (for government officials and officials employed in regions and municipalities)


Agreement based Labor Market Pensions


Agreement based Labor Market Pensions


Agreement-based labor market pensions are the type of pension that accounts for the majority of the labor market pensions. This type of pension applies to a group of employees who usually have the same educational or professional affiliation irrespective of which company they are employed in. Here, the employee organizations and the employers agree in agreement with pay and pension in collective agreements that apply to all employees within specific areas. This type of pension is often lifelong, which means that you will receive money from retirement until the day you die.


Company Pensions


Company pensions typically include employees in a particular company. Here the employer can freely choose which pension company is to be used for the administration of the pension schemes in the company. This type of pension is tied to the agreements that are concluded between the employer and the company’s employees in relation to how the pension scheme must be composed, and what it must cover.


Officials’ pensions are strongly linked to employment. The size of your pension here depends on how long you have worked as an official. Depending on how many years you have been employed as an official, you will earn the right to the pension.

This type of labor market pension follows the official’s pension law if you are employed as an official in the state. However, the rules for civil servants employed in regions and municipalities largely correspond to the civil servant’s pension law in substance. Officials ‘pensions are financed through the Finance Act or via the municipalities / regions’ budgets . Payment of civil servant’s pension is life-long.


How is the payment of the labor market pension?


As labor market pensions can be built up in many different ways, one typically distinguishes between four different types in relation to disbursement of labor market pensions. The four types are:

• Annuity / old-age pension
• Ratepension
• Capital pension
• Age insurance / retirement savings

Annuity / retirement
Annuity is something that is usually lifelong. However, it can also be paid over at least ten years, by which it is instead called a discontinuing annuity. It doesn’t matter how old you are when you want to create an annuity; You can do that no matter how old you are. As a rule, you are told that the annuity can be paid no earlier than five years before you reach your retirement age. All annuity payments are taxable.

Installment pension
An installment pension can give you annual payments for 10-25 years. Typically, you will not start paying out an installment pension at the earliest five years before and no later than ten years after you have reached your retirement age. Payments by the rate pension are also taxable and you can easily choose to convert this type of pension to a lifetime annuity at a later date

With a capital pension you get paid it all as a lump sum. You can get it paid out at the earliest five years before and no later than ten years after you have reached your retirement age. These payments are taxable at 40%. You can always easily choose to reschedule your capital pension to either an annuity or rate pension.


Age Insurance


In the same way as with a capital pension, an age insurance is paid out as a lump sum. This type of pension works largely in the same way as a capital pension, but they are different on the point that the tax pays on payment and thus not on the payment, which is thus tax-free. Age insurance can also be paid at the earliest five years before and no later than ten years after you have reached your retirement age. This pension scheme is called retirement savings if it is created in a bank and age insurance if it is created with a pension company.


Individual Pension Scheme


Who can Receive a State Pension?


The last type of pension is called the individual pension scheme. An individual pension scheme is a type of pension that you have to make sure you pay for. There are several different types of individual pension schemes, where you can usually choose between payment as a lump sum or in fixed monthly installments. It is a matter of taste whether you want an individual pension scheme or not, and it depends, among other things, on how much money you want to have available to live for when you become a pensioner.

Many self-employed people choose to set up an individual pension scheme, as you as a self-employed only have the right to state pension and ATP Livslang Pension. This means that the self-employed do not have a labor market pension, which is why it is not automatically saved up for a pension.

You can therefore, as an independent, risk experiencing a big difference between what you earn while you work as an independent and what you receive when you have become a pensioner. If you as a self-employed therefore do not believe that the state pension and ATP Livslang Pension are not enough to give you, the standard of living you want, then it may be quite relevant to create an individual pension scheme.

In the same way as with the labor market pensions, you can also get various forms of life and health insurance associated with your pension scheme. In this way you ensure both yourself and your family if you have to tragically die or become seriously ill before you can get your pension paid.