Getting the green light
The Danish FSA was the first in Europe to introduce risk-based solvency regulation, and its life and pensions sector is at the cutting edge of financial innovation. Deputy director, and head of life and pension supervision, Jan Parner explains how this system has coped in the current crisis. Aaron Woolner reports
Life & Pensions
How is the life and pensions system in Denmark structured?
Jan Parner
We have a three pillar pension system in Denmark - the first pillar, state pension, is defined benefit. The second pillar is made up of defined collective contribution schemes either by law, for example, ATP, or by collective agreement between workers and unions - multi employer occupational pension schemes, such as Industriens Pension. Then a third pillar of defined contribution individual insurance contracts
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