Pension provider's letter was contrary to prudent practice

In a case of general public importance brought by the Danish Consumer Ombudsman, the Copenhagen City Court found that Sampension KP Livsforsikring A/S ("Sampension") acted contrary to prudent practice for financial services companies. Sampension failed to comply with prudent practice when it sent a standard letter to a cancer-stricken customer, recommending the customer to transfer to another type of pension scheme that did not include spouse's pension without evaluating the customer's specific situation. The case emphasises the vigilance that should be shown by pension providers when approaching customers about transferring from one pension scheme to another.

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