Rules concerning part-time employment for seniors

If you are employed within Finansforbundet’s standard collective agreement (STOK), you are entitled to part-time employment for seniors. This means that you can reduce your working hours without affecting your pension contributions if you have been continuously employed for five years.

You are entitled to have your working hours reduced to between:

• 80 and 100% of full-time employment if you are at least 60 years old
• 70 and 100% of full-time employment if you are at least 62 years old
• 60 and 100 % of full-time employment if you are at least 64 years old

After your part-time employment for seniors has taken effect, both you and your employer pay pension contributions for up to seven years. This is done on the basis of your previous employment rate and the size of the contribution thus depends on how you have been employed up to the part-time employment for seniors.

Rejection of part-time employment for seniors

Your employer may reject your application for part-time employment for seniors if it is not compatible with your work. Prior to this, your employer must enter into a dialogue with your union representative regarding the possibilities of accommodating your request.

If your employer cannot offer you part-time employment for seniors in your current job, your employer must investigate alternative options. If you are offered a different position with a lower salary, you will retain the original pension contribution in DKK until the pension contribution in percent converted to DKK is greater in the new position.

Opting out of pension contributions

During the transition to part-time employment for seniors - after consultation with your pension company – you have the option to opt out of pension contributions. You may also choose to have the employer’s pension contribution paid: this is calculated based on your employment rate up to the part-time employment for seniors.

It is required that you make the decision in consultation with your pension company, as it may affect your risk coverage.

Your pension contribution will be paid as a non-pensionable supplement to salary. Therefore, you will not receive a holiday supplement or payment in lieu of untaken days of holiday from the paid pension contribution.

Employees under company collective agreements or insurer collective agreements

If you are employed under a company collective agreement or Insurance Agent collective agreement, you can contact your local union or union representative for advice on your rights to part-time employment for seniors.