700 million kronor distributed to pensioners who received less than they should have during the past year

According to a statement issued by the State Pension Fund (ATP), state pensioners, old-age pensioners, early retirees, and those who received less pensions than they were entitled to according to the annual financial statement (Årsopgørelse) - available on the tax website skat.dk by logging in with MitID - will share a huge sum of 700 million Danish kroner.

(Read the statement below)

Over the coming months, funds will be deposited into the accounts of approximately 150,000 retirees who received less pensions than they should have during 2024.

Starting Tuesday and in the coming weeks, people who receive the money will receive a message in their e-Books or mailbox.

This includes 150,000 people: government pensioners, early retirees, and elderly pensioners, who will share approximately 700 million kronor.

According to the statement, half of the approximately 1.1 million pensioners in Denmark received the correct amount and therefore will not receive any late payment, according to a statement by the general manager of Udbetaling Danmark, Christine Steenhuis, as reported by BT.

Conversely, retirees who received excess pension payments will have to return those amounts in the amount they owe.

It is not yet clear how much money will be paid out and how many people are involved, as Christine Steinhaus stated: “We have calculated the pension for 2024, and it turns out that around 150,000 people received a lower pension than they should have.”.

Christine Steenhuis added that the payment institution Udbetaling Danmark calculates each year whether people received the correct amount: “Some may receive more, others less.” She explained that the type of pension does not determine the amount received, according to BT: “Udbetaling Danmark calculates the pension based on what is shown in the advance payment statement. When someone needs a refund, it is usually because the annual statement differs from the advance payment statement,” Steenhuis explained, adding that there are various reasons for this: “Their income may have changed during the year without correcting their advance tax return. This can also apply to pensioners who received joint income (from their spouse) that has only now been recorded.”.

Although Udbetaling Danmark will announce the group of pensioners who will receive their delayed pensions from Tuesday and in the coming weeks, they will have to wait for some time to see the money in their accounts.

For most people, the money will arrive in the account at the end of June and July. However, one group may have to wait a little longer, such as self-employed pensioners or their spouses, pensioners abroad, and pensioners with foreign income. These categories will not receive letters until September, as they have a longer deadline to submit the annual statement, according to Christine Steenhaus, as reported by BT.

This is the text of the statement issued by the Government Pension Fund Trust (ATP):

Pensioners will soon receive 700 million kroner from “Udbetaling Danmark”

These weeks, Udbetaling Danmark, part of the ATP Foundation, is sending out its annual pension statement for 2024 to nearly 1.1 million old-age and early-retirement pensioners.

The vast majority have already received the pension they are entitled to for 2024. However, around 150,000 people can expect an additional payment this summer.

Christine Steenhuis, Managing Director of Udbetaling Danmark, said: “We are pleased to be able to pay out around 700 million Danish kroner to pensioners who received less than they were entitled to during the year. This is an important responsibility for us as a government institution, and it contributes to strengthening citizens” sense of security through their ability to rely on the annual pension statement.“

Payments will be made to most retirees on June 30, while the rest will be made on July 31.

Around 300,000 pensioners will receive their annual statement (Årsopgørelse) starting in September. This includes pensioners who run, or whose spouses/partners run, a business, who live abroad, or who have income from foreign sources.

The statement has ended.