Get extra tax bill on their pension without knowing

Among the persons who indicate in the study to pay for a retirement pension, 57 per cent say that they have not checked whether this year they will pay more for retirement pension than can be deducted, while 17 per cent. answers « don't know ». The remaining quarter indicates to have checked it:

« It is probably the few who want to get their money taxed more than necessary. Nevertheless, every year there are many Danes who risk just that because they pay too much for their retirement pension and therefore lose the deduction for some of the payments. Thus, they have the prospect of being hit by double taxation, as tax on the money is paid both in the payment year and again. run into thousands of dollars, so there is certainly no talk of small amounts, ”says Helle Dalsgaard, chief adviser in Sampension.

According to the Tax Agency, every year there are up to 40,000 Danes who pay more on their retirement pension than a deduction is given, and thus risk being double taxed:

« That's why the Danes who pay for a retirement pension have good reason to be aware of whether their payments stay within the deduction limit this year. This also applies if you plan to put extra into retirement savings before the New Year, and in this connection you risk exceeding the steering wheel ceiling. Continuing:

« The problem with excessive payments typically occurs if you pay on multiple retirement pensions. If you have a pension through the job, you usually also have automatic retirement pension payments, where the pension company makes sure that the payments do not exceed the deduction limit. Set stays within the border, ”says Helle Dalsgaard.

She adds that it is also the reason why Sampension every year at this time sends a message to customers, where they are encouraged to check that they stay within the deduction limit.

And if they have deposits in several places, they can get advice from Sampension on how to customize the payments so that they do not pay too much:

« However, all hope is not out if you are going to pay too much into a retirement pension. For in that case it will still be possible to make sure that the payments are not taxed several times. However, it requires that you pay attention when the annual statement lands in March. To have them transferred to a lifetime pension scheme, ”says Helle Dalsgaard and continues:

« However, we know that unfortunately there are many Danes who do not get to deal with the excessive payments in terms of the annual statement, and who will therefore hang on an unnecessary extra tax bill. It is also the reason why the Tax Agency as something new has sent a letter in the spring to the Danes who paid too much for a pension last year. Is even said positively – even though there is still only a few, ”says Helle Dalsgaard.

The advisory and audit firm BDO states in a newsletter on the basis of information from the Tax Agency that by 2023 there were 39,400 people who together paid DKK 404 million. more for retirement pension than they could get a deduction for – ie on average just over DKK 10,000 each. Of these, 27 per cent. (10,700 people) corrected for their mistakes, while the proportion of 10 per cent the year before.