What is Velliv Foreningen?
Velliv is a member association for costumers at the Danish pension company Velliv (formerly Nordea Liv & Pension). Velliv Foreningen owns 81 % of Velliv and aims at overtaking full ownership in the near future.
In years with a financial surplus, the association can decide to pay a cash bonus to its members. Bonus is 80 % of the annual returns. The remaining 20 % is spent on philanthropic activities in the field of mental health.
The association is governed by representative democracy. Members of the association are invited to vote and run for office as a representative on the board of representatives every four years. There are approximately 50 representatives on the board, depending on membership distribution. The representatives elect the board of directors and act as the final decision making body on many central decisions, including decisions regarding the ownership of Velliv.
You automatically become a member of the association, when you or your employer set up a pension plan/insurance with Velliv. Membership is free and you have no obligations. Your membership does not affect your pension plan.
What is a membership bonus?
In years with a financial surplus, the association can decide to pay a cash bonus to its members. Bonus is 80 % of the annual returns.
If you are entitled to a membership bonus in 2019, the bonus is approximately 0,14 % of your accumulated savings on December 31st 2018. You will be notified of the exact amount by mail (either in e-Boks or via post) and the amount will be automatically transferred to your NemKonto account. If you do not have a NemKonto account, see below on how to register one.
If you are tax registered in Denmark, you are required to pay income tax on the bonus amount. Read below for more information.
How do I become eligible for a membership bonus?
In order to be eligible for a membership bonus in 2019, you must be a member of the association on December 31st 2018 and on March 28th 2019 (the day the board of representatives decided to pay membership bonus in 2019).
You also need to have your CPR-number registered with Velliv. If you do not have your CPR-number registrered, we will send you a letter informing you of this. You need to have your CPR-number registered by November 30th 2019.
Finally, you need to have a registered NemKonto. This can be a Danish or a non-Danish account. Your NemKonto account should be registered by November 30th 2019. For more information on how to register a NemKonto account, please read below.
How do I register a NemKonto account?
A NemKonto account is any preexisting bank account you choose to register. It is an account that Danish authorities and private companies can pay money owed to you into. No money can be taken out of your NemKonto without your consent, but money can be payed into it automatically.
You can choose to register a Danish account or a non-Danish account as your NemKonto. Registering a NemKonto account is free.
Registering a Danish account is easy. You simply contact your Danish bank and ask for your Danish account to be registered as NemKonto.
Registering a non-Danish account is a bit more complicated. You need to fill out a form from NemKonto which you can download here. Upon filling out the form you send it via regular post to NemKonto. Once registered with NemKonto, you will receive a letter with a confirmation code that you should use to activate your NemKonto.
Since this process can be time consuming, we recommend that you send us a copy of your NemKonto registration form. Send the copy to email@example.com
Should I pay tax on my bonus?
If you are a registered tax payer in Denmark, you need to pay income tax on your membership bonus. At the end of the year, we notify the Danish Tax Authority (SKAT) of all bonus amounts and recipients, and SKAT sorts out who should pay taxes in Denmark.
If you are a registered tax payer of a different country, we encourage you to research your own tax terms.