VækstPension – achieve optimal growth on your savings

By choosing VækstPension you indicate the level of your risk appetite and whether you request active or index management – we take care of the rest. You can change your investment profile at any time. 

Overview Investment Return Costs Overview


By choosing VækstPension your savings will have the best possibility of growing throughout your entire work life.

You will receive:


The investment principle of VækstPension is basic and adapted to you: We will use your possibility of achieving a high return while you are young and able to assume a higher risk. When you are approaching the time of retirement, we will downscale the risk, create security around your pension savings and secure stability of your regular disbursements.

Automatic downscaling of risk – Medium risk, actively managed (mellem risiko/aktivt forvaltet)Nedtrapning VækstPension mellem risiko

Nedtrapning Green

Secure investments

The green colour shows the share of safe investments, for example Danish state bonds or mortgage bonds and real estate.

Nedtrapning Yellow Income investments

The yellow colour shows the share of investments and the risk placed “in the middle” – thereby they are neither secure nor exposed, for example forest investments or credit funds.

Nedtrapning RedReturn investments

The red colour shows the share or risky investments, for example listed shares, hedge funds or private equity funds with unlisted shares. 

Risk and return go hand in hand: The greater the risk, the higher potential return. You can read more about the investments in the four risk profiles.

The composition of funds depends on which risk profile is chosen (Lav (low), Mellem (medium), Høj (high) or Garanti (guarantee)) and whether you would like your investments to be managed actively or index-based.

This is how we prioritise your investments based on the various risk profiles.

The illustrations will show the distribution of investments for an annuity pension disbursed over 15 years.

Low risk (lav risiko) - stable return, less potential of return

A relatively big part of your savings will be invested prudently in bonds, for example.Vækstpension automatisk nedtrapning - Lav risiko

Medium risk (mellem risiko) - stable return, increased potential of return

A moderate part of your savings will be invested prudently in bonds, for example.Nedtrapning VækstPension mellem risiko

High risk (høj risiko) - high potential of return, increased risk of loss

Up to 100% of your savings will be invested riskily in shares, for example.Vækstpension automatisk nedtrapning - Høj risiko

More combinations of priority of investments can be seen in the link "Nedtrapning" (Downscaling) to your right (in Danish). 

Garanti – if you require extra security

If you require extra security, you should choose Garanti that has an attached investment guarantee. As a minimum, you will be guaranteed your contributions (minus costs and possible payment to insurances). This also applies if you die before retiring. The investments placed in Garanti fund A are similar to VP fund 4 until the downscaling starts. Hereafter the share of risky investments is downscaled to 0% at the time of retirement.

You will lose your guarantee if you terminate your agreement of VækstPension or advance your time of retirement.

If you change your investment profile to Garanti when there is less than 5 years to retirement, only a part of your savings will be guaranteed (95-99% depending of number of years until retirement).

The difference between active and index-based investment is the risk spreading in the investments and the day-to-day attention given the individual investments.

An actively managed investment will provide you with the best risk spreading as well as ensure good possibilities of achieving a high return. Our investment experts are monitoring the market, selecting the individual securities (for instance shares in specific companies) and continuously estimating the composition of investment types (for instance shares, bonds, real estate, alternatives, etc.). Furthermore, you will gain access to attractive investment types that are not normally accessible for private individuals.

Index-based investments automatically follow a series of the most disseminated indexes in the world (5 for shares and 5 for bonds), thus showing a minor risk spreading. However, you will miss out on the possible, extra profit found in actively managed pension savings. On the other hand, your investment costs are lower. Please note that not all customers have access to choose index management.

You can modify your choice of active or index management in the self-service on Netpension.

Read more about active or index-based investmentsÅbner i nyt vindue (in Danish).

With VækstPension we want to create solid, long-term returns without unnecessary risk. Our investment strategy for VækstPension is built on our comprehension of how to produce the best, long-term investment return:


VækstPension has a long investment period. As an investor with pension assets, this is a very powerful position. It is important to have a strong stomach and avoid getting carried away by the news flow.

Active management

The investment strategy is also built on a conviction that active investment will create a higher return compared to what is performed in the market in total. The strategy is managed and implemented by our team of investment experts who have great experience in investment and are highly specialised within various parts of the capital markets.

The investment experts in Nordea Liv & Pension are continuously addressing return possibilities and risks, and they will take action when relevant to make sure that the portfolio is composed in the most effective way at any time.


We employ external advisors to create market-leading asset management within the highly specialised parts of the portfolio: emerging markets, High Yield and Small Cap etc. We select and monitor the external advisors in cooperation with Nordea’s expert team that has some of the market’s best resources.

Strong risk management

Our investment team has proved that it is possible to beat the market. Predicting future returns can only be done with great uncertainty. On the other hand, we control the risks very well. Our investment team is using leading analytical tools to measure and control the risk in the portfolios. To a great extent, this is the explanation for the good balance between risk and return delivered historically.


You can check your return in the app Liv & Pension.

See more about returnÅbner i nyt vindue (in Danish)



Investment costs calculated in APR (annual percentage rate) is the fee you pay when we invest and manage your pension assets. In 2015 the APR amounted to 0.99% for investment costs in VækstPension – Mellem risiko with more than 15 years until retirement.

Besides the fee charged for investment costs, there is also the direct cost of administrating your pension scheme. Your total APR may be higher or lower which depends on you savings, how your corporate pension agreement is composed, if you make private pension contributions etc.

You will be able to see your total costs calculated in AAR (annual amount rate) and APR on NetpensionÅbner i nyt vindue (in Danish).

In VækstPension there are three types of costs:

1) Direct costs deducted as a percentage of your pension contributions.

2) Indirect costs consisting of investment costs deducted from the return provided by the investment funds where your savings are invested.

3) Payment for guarantee which is deducted from the value of your savings – if you have chosen to attach an investment guarantee.

See how the investment funds are distributed on the separate funds.

On this site you can find general information e.g. about pension schemes and insurance products. We always do our best to maintain the site, however errors may occur. In case of discrepancies between the English and Danish content, it is the Danish wording of terms and conditions that apply. If you have any queries, please do not hesitate to contact us.