Denmark - PensionDanmark achieved a 7% investment return, equivalent to DKK3.6bn (€480m) for 2006, as the firm just beat its strategic benchmark.
Its overall balance grew 19% from DKK52.2bn (€7.0bn) in 2005 to DKK 61.9bn (€8.3bn).
In 2006 there the firm paid DKK8.4bn (€1.1bn) in premiums, an increase of 15% compared to 2005. It retained its position as the third largest pension company measured on premiums.
PensionDanmark CEO Torben Möger Pedersen described the performance as "satisfying" in a year where higher interest rates resulted in a rather modest return on bonds.
“Despite increased activity and continuous product development PensionDanmark reduced administrative costs for the fourth year in a row to DKK318 (€43) per member, down from DKK320 (€43) per member in 2005," said Pedersen.
"This reinforces PensionDanmark’s position as the most cost efficient pension provider in the business. In the end low administrative costs will result in higher old age pensions for the members."
The total number of members increased from 486,000 to 517,000. The number of companies, which paid premiums on behalf of their employees to PensionDanmark, was 35,000.
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