About Lærernes Pension

Lærernes Pension was founded by the social partners in education to provide pensions for teachers. Our aim is to be one of the best pension funds.  Our pension schemes ensure security for each individual member and are based on collective, solidaric principles.

Lærernes Pension in numbers
  • 147,003 members end 2019
  • Market value end 2019: 119 billion DKK
  • Return in 2019: 17.4%

The company

Lærernes Pension is a life insurance company that provides pension schemes for more than 140,000 teachers employed in Danish municipal and private primary and lower-secondary schools and in adult education.

 

Our investment strategy

Our investments are based on a safe, efficient, long term and ethically sound investment strategy. The general objective of the strategy is to achieve the highest possible pensions for our scheme members, while having due regard to risk and the Company’s ethical code.

We endeavour always to diversify our investments across many asset classes, as this reduces the likelihood of major losses in times when market trends differ greatly from the expected.

The ethical code stipulates that Lærernes Pension does not invest in companies that base their activities on producing or dealing in arms, infringe human rights or behave irresponsibly towards natural resources. The code is made effective by performing ongoing screening of our investments and selling holdings in those companies that do not meet the criteria.

In order to keep costs low, Lærernes Pension has outsourced the actual portfolio management to external portfolio managers. A large proportion of the investment assets are managed passively, where the aim is to achieve a return that matches the market yield. Use is also made of active management, since for certain asset classes that presents apparent advantages or is the only way of obtaining exposure.

A part of Lærernes Pension’s investments is under the aegis of the restricted association Fåmandsforeningen Lærernes Pension Invest.

Portfolio managers

List of Asset managers at year-end from our latest Annual Report.

Update usually takes place late April or early May.

The list is in Danish. Key words translates as

  • Forvalter - Manager
  • Investeringsområde – Asset class 

  • Aktier - Equity
  • Obligationer - Bonds
  • Private Equity - Private Equity
  • Ejendomme – Real estate
  • Skovinvesteringer - Forest Investments
  • Infrastruktur - Infrastructure
Risk management

Lærernes Pension attaches great importance to risk management, which it has entrusted to a special risk management team referring to the CEO.

Lærernes Pension’s greatest risks arise from its pension liabilities and investment strategy. The pension liabilities risk is limited by cautious design of the pension schemes entered into and the use of interest rate hedging. The extent of the investment risk taken depends on the reserves, the expected return and the risks that follow from the pension liabilities. In the event of a serious deterioration in the reserve situation, the Secretariat is able to reduce the Company’s investment risk by hedging and portfolio restructuring. In the extreme case the pension schemes can be adjusted. 

Lærernes Pension has a high degree of solvency which is primarily due to the Company’s large reserves. Lærernes Pension is well-equipped to satisfy the solvency requirement of Solvency II. It is therefore expected that Solvency II will not affect the pension promises that have been made by the Company to scheme members, nor its ability to take investment risks.

Our investments are based on a safe, efficient, long term and ethically sound investment strategy. The general objective of the strategy is to achieve the highest possible pensions for our scheme members, while having due regard to risk and the Company’s ethical code.

We endeavour always to diversify our investments across many asset classes, as this reduces the likelihood of major losses in times when market trends differ greatly from the expected.

The ethical code stipulates that Lærernes Pension does not invest in companies that base their activities on producing or dealing in arms, infringe human rights or behave irresponsibly towards natural resources. The code is made effective by performing ongoing screening of our investments and selling holdings in those companies that do not meet the criteria.

In order to keep costs low, Lærernes Pension has outsourced the actual portfolio management to external portfolio managers. A large proportion of the investment assets are managed passively, where the aim is to achieve a return that matches the market yield. Use is also made of active management, since for certain asset classes that presents apparent advantages or is the only way of obtaining exposure.

A part of Lærernes Pension’s investments is under the aegis of the restricted association Fåmandsforeningen Lærernes Pension Invest.

List of Asset managers at year-end from our latest Annual Report.

Update usually takes place late April or early May.

The list is in Danish. Key words translates as

  • Forvalter - Manager
  • Investeringsområde – Asset class 

  • Aktier - Equity
  • Obligationer - Bonds
  • Private Equity - Private Equity
  • Ejendomme – Real estate
  • Skovinvesteringer - Forest Investments
  • Infrastruktur - Infrastructure

Lærernes Pension attaches great importance to risk management, which it has entrusted to a special risk management team referring to the CEO.

Lærernes Pension’s greatest risks arise from its pension liabilities and investment strategy. The pension liabilities risk is limited by cautious design of the pension schemes entered into and the use of interest rate hedging. The extent of the investment risk taken depends on the reserves, the expected return and the risks that follow from the pension liabilities. In the event of a serious deterioration in the reserve situation, the Secretariat is able to reduce the Company’s investment risk by hedging and portfolio restructuring. In the extreme case the pension schemes can be adjusted. 

Lærernes Pension has a high degree of solvency which is primarily due to the Company’s large reserves. Lærernes Pension is well-equipped to satisfy the solvency requirement of Solvency II. It is therefore expected that Solvency II will not affect the pension promises that have been made by the Company to scheme members, nor its ability to take investment risks.

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