1. Log in to pensionsinfo.dk 
Here you can get a complete overview of your pension schemes and forecasts for your benefit payments.  

2. Contact your pension provider
The rules for partial retirement vary and depend on, among other things, whether you are employed in the public or private sector, so always contact your pension provider to find out what applies to you.

3. Check when you can start drawing on your pension savings
You may be able to start as early as age 60. It depends on when the pension scheme was set up, and when you were born. If the pension scheme was set up before 1 May 2007, you can start receiving payments at age 60. If it was set up between 1 May 2007 and 31 December 2017, you can start receiving payments 5 years before your state pension age. If the pension scheme was set up after 1 January 2018, you can only start receiving payments 3 years before your state pension age.

4. Consider whether you have saved enough 
Do your pension savings match the standard of living you want in retirement? Do you have other assets besides your pension? Consider whether you need to increase your savings while you can.

5. Consider the option of saving or investing on your own 
You may have the opportunity to save or invest alongside your pension savings. If you invest your savings as so-called free funds in, for example, equities, you must pay a larger portion of the gain in tax than you do on your pension scheme. On the other hand, payment is more flexible as you can start using the money whenever you need it.

6. Check which types of pension your contributions go to 
Are you only contributing to a retirement pension/life annuity, or are you also contributing to an annuity certain or a retirement or tax-exempt retirement savings? Different pensions can provide flexibility in terms of payment, so the sooner you consider this, the better.

7. Consider your housing situation
Housing needs can change over time. Therefore, it is a good idea to consider well in advance what expectations you have for your housing situation as a pensioner. Do you wish to stay in your current home for as long as possible and maybe draw on you home equity to live on in retirement? Or are you planning to move to something smaller or cheaper to free up funds for retirement? 

8. Remember, the earlier you start your pension, the less you will have to live on
Keep in mind that there will be less to live on overall when you grow old if you start drawing your pension early.

If you have questions about partial retirement, you are welcome to contact us