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Further information for members of P+, former JØP

Below you can see the pre-tax deposit interest rates for 2022 and the expectations to the years to come (forecasted interest rates).   

Pre-tax deposit interest rates (forecast) 2022 2023-2027 2028-2032 2033 →
P+ Regulations, former JØP Regulations 2 (interest rate groups O, P, Q and R) 11.50 % 3.37 % 4.74 % 5.63 %
P+ Regulations 1973, former JØP Regulations 1 (interest rate group D, E and F) 0.00 % 0.00 % 0.00 % 0.00 %
P+ Regulations 1973, former JØP Regulations 1 (interest rate group C) 2.50 % 3.37 % 4.74 % 5.63 %
P+ Regulations 1973, former JØP Regulations 1 (interest rate group B) 11.50 % 3.37 % 4.74 % 5.63 %
P+ annuity certain, former JØP and P+ retirement insurance, former JØP 11.50 % 3.37 % 4.74 % 5.63 %
P+ Pension Udland, former JØP and P+ Ratepension Udland, former JØP 11.50 % 3.37 % 4.74 % 5.63 %
Pre-tax return (forecast) 0-5 år 5-10 år 10 år →
MemberFunds and MemberFunds (15 years) 3.37 % 4.74 % 5.63 %

The interest rate forecast is fixed on basis of social assumptions determined by Insurance & Pension Denmark and Finance Denmark. For 2021 the actual deposit interest rate is applied. 

Previous returns and deposit interest rates
Below you can see the returns which determination of the deposit interest rate is based on and the deposit interest rates applying to P+ Regulations 2007, former JØP Regulations 2 (O, P, Q and R), P+ annuity certain, former JØP and P+ retirement insurance, former JØP, P+ Pension Udland, former JØP and P+ Ratepension Udland, former JØP.

5-year overview - return (percent)

2021

2020

2019

2018

2017

Pre-tax return

Investment profile P+ Balance

14.0 %

6.6 %

11.4 %

-1.6 %

9.7 %

5-year overview - deposit interest rate (percent)

2021
(January-June)

2021
(July-December)

2020

2019

2018

2017

P+ Regulations 2007, former JØP Regulations 2 (O and P), P+ annuity certain, former JØP and P+ retirement insurance, former JØP, P+ Pension Udland,  former JØP and P+ Ratepension Udland, former JØP

 

 

 

 

 

 

Pre-tax deposit interest rate

2.5 %

3.5 %

4.5 %

 4.5 %

5.3 %

4.5 %

After-tax deposit interest rate

2.12%

2.96 %

3.8 %

3.8 %

4.5 %

3.8 %

P+ Regulations 2007, former JØP Regulations 2 (Q and R)

 

 

 

 

 

 

Pre-tax deposit interest rate

2.5 %

3.5 %

4.5 %

4.5 %

5.3 %

4.7%

After-tax deposit interest rate

2.12%

2.96 %

3.8 %

3.8 %

4.5 %

4.0 %

In November 2020, the deposit interest rate for 2021 applying to interest rate group O, P, Q, R, P+ annuity certain and P+ Pension Udland was fixed at 2.5 percent before pension return tax. Back when the Board fixed the deposit interest, the return on investments was approx. 0 percent which meant that the bonus rates were approx. 3 percent. In July 2021, the depsit interest rate is raised extraordinarily due to a return on investments of 14 percent at the end of June 2021. The positive development has entailed that the bonus rates have increased, and if it continues in 2021 it might be possible to raise the deposit interest rate further in 2022

Accordingly, the deposit interest rate for interest rate group C is 0 percent in 2021 and it has fallen compared to 2020. In 2020, a withdrawal penalty was introduced for interest rate group C. The group is characterised by the interest rate level in market being below the basic interest rates used for determining the basic pensions. Therefore, it is necessary to hold back the deposit interest rate to protect the group from imposing the pension fund losses.

Members in interest rate group D, E and F all have the investment profile P+ Grundlag which, like last year, has a deposit interest rate of 0 percent. The deposit interest rate is maintained in order to re-establish a financial reserve for the interest rate groups.

Pension schemes under P+ Regulations 1973, former JØP Regulations 1 have a different investment profile, as they have higher basic interest rates, and the pensions are unconditional.

5-year overview - deposit interest rate (percent)

2021

2020

2019

2018

2017

P+ Regulations 1973, former JØP Regulations 1 (interest rate group D, E, F)

 

 

 

 

 

Pre-tax deposit interest rate

0 %

0 %

0 %

0 %

0 %

After-tax deposit interest rate

0 %

0 %

0 %

0 %

0 %

P+ Regulations 1973, former JØP Regulations (interest rate group C)

 

 

 

 

 

Pre-tax deposit interest rate

0 % 1.5 % 4.5 % 5.3 % 4.7 %

After-tax deposit interest rate

0 % 1.25 % 3.8 % 4.5 % 4.0 %

P+ Regulations 1973, former JØP Regulations 1 (interest rate group B)

         

Pre-tax deposit interest rate

2.5 % 4.5 % 4.5 % 5.3 % 4.7 %

After-tax deposit interest rate

2.12 % 3.8 % 3.8 % 4.5 % 4.0 %