Transparency about pension costs at BeFrank

At BeFrank, we aim for the highest quality for a fair price. We’re open about that. We always keep the costs of pension contributions separate. That way, your customers know exactly where they stand.

Which things does the employer pay?

  • Pension contributions 

We invest 100% of the pension contributions made. Therefore, employees see 100% of the amount they contribute on their personal pension page.

  • Insurance premiums 

Premiums for the pension insurance policies are always charged separately, as are the administration fees. 

  • Administration fees 

Administration fees payable by the employer depend on the number of employees participating in the pension scheme. You will usually pay between €30 and €60 per employee per year in administration fees.

  • One-off implementation fees 

We charge a one-off implementation fee for registering your pension contract in our systems.

Which things does the employee pay?

  • Investment costs 

Controlling the investment costs is extremely important in order to receive a good result. For this reason, we aim to keep the investment costs low. We only select funds with a low cost structure and no distribution fees. 

The costs of investment funds such as the management fee and audit fees, are expressed as a percentage: the Ongoing Charges (OC) ratio. Our Fund Manager offsets these costs against the value of the investment funds.

  • Management fee 

The charges that BeFrank applies for managing the investments are together known as the management fee. The annual costs are between 0.12% and 0.24% of the managed capital. These costs are charged monthly and deducted from the investments.

  • Acquisition costs 

Lastly, the Fund Manager pays trading fees for buying and selling investments. For some funds, we include these costs in the price. We regularly adjust entry and exit fees in line with the market conditions.

Investments in lifecycle funds are exempt from acquisition costs and sale costs. We charge €3 per transaction when an employee has opted for Do It Yourself investing.