PFA pension fund returns billions to customers
Pension fund PFA has announced a return of 1.7 billion Danish kroner to its 1.3 million customers, equating to around 1300 kroner each. This marks the 20th consecutive year PFA has distributed surpluses, cumulatively reaching 26 billion kroner. In a statement, CEO Ole Krogh Petersen highlighted the importance of financial security amidst prevailing uncertainties. PFA’s sharing model, KundeKapital, allows for this redistribution. In 2023, PFA customers witnessed significant growth in their pension funds with an overall return of 49 billion kroner, yielding a 12.1% increase in a typical customer’s portfolio, rebounding from losses in 2022. The upturn is largely attributed to a strong performance in the stock market. PFA’s shares delivered an 18% return; specifically, heavy gains were seen in Novo Nordisk and Danske Bank stocks, contributing to a 28.2% return from Danish stocks.