When you become an old age pensioner, you will receive your ATP Livslang Pension - either in the form of monthly pension benefits or as a lump sum depending on how much you have accrued.
Shortly before you reach your pensionable age, you will receive a letter from ATP. You have to make sure that ATP has your address.
The letter contains a form which you have to fill out with e.g. your account information and send back to ATP. The payments will then begin the first day of one month after you reach your pensionable age.
See an English translation of the letter:
If you do not have an address in Denmark, please remember that ATP must have your address abroad in order to pay out your pension.
The bank deducts a handling fee
Under the ATP banking agreement, the bank will charge DKK 19.75 per transfer, no matter which foreign country the money is transferred to. Your bank outside of Denmark may also charge a fee for receiving the money.
You can choose how the money will be paid
It is a good idea to decide how you would like your ATP Livslang Pension to be paid from now on:
If you open - or already have - an account in a bank in Denmark, the money can go straight into that account, with no cost to you.
If you usually have the money paid to a bank outside Denmark, and you take no action, DKK19.75 will be deducted from all your future pension payments. Your own bank may also make a charge for the transfer.
Some Danish banks offer a special account - what they call an ‘opsamlingskonto' (pooling account) - in which payments from ATP Livslang Pension can accumulate and then be transferred once or twice a year to your foreign bank. You will still have to pay a charge for the transfer - but not every month.
See what bank information ATP needs in order to transfer your pension safely to your foreign account.
Deferring your pension
You can choose to defer your pension. If you wish to do so, please tick the box "I wish to defer my ATP Livslang Pension until:" on the form that you receive with your pension letter.