LPR Nordics: Sampension hits back at guarantee switch critics

The CEO of the Danish pension fund mounts a robust defence of his decision to remove the legal basis of its product guarantees

Danish pension fund Sampension's switch from legally binding to "intentional" guaranteed rates of return was in the interests of its policyholders, as it was the only way the targets would have been possible to achieve under Solvency II, according to its chief executive officer, Hasse Jørgensen.

Speaking at Life & Pension Risk's annual Nordic event in Copenhagen, Jørgensen mounted a robust defence of the decision, which has seen his firm subjected to a storm of bad press, with local tabloid