A new job: how does it affect your pension?

Got a new job? This will affect your pension. We’ve listed the main implications for you below.

Value transfer

Have you started working for another employer? Your period of employment and therefore your pension accrual with your previous employer will then stop. You can often transfer the pension you have accrued up to that point to your new pension administrator. This is called a value transfer.

The advantage of a value transfer is that you keep all your pension capital in one place. In the ‘old’ pension schemes, years of service with a previous employer also count towards the amount of the surviving dependants’ cover. Good to know: in the new schemes that comply with the new Pensions Act, years of service will no longer be taken into account.

However, a value transfer is not always a good idea. For that reason, you need to think carefully about whether you want a value transfer. If you’re unsure whether a value transfer is a good idea in your situation, you should always consult a financial advisor first.

• If you are accruing pension through BeFrank and you want to request a value transfer, visit your personal pension page.
• Accrued pension with BeFrank and want to transfer the value to your new pension administrator? You can request this from your new pension administrator.

A small pension with BeFrank

Accrued pension with BeFrank through your old employer? And is this an amount of no more than
€ 613.52 (2025) per year? This is called a small pension. If you are accruing pension through your new employer elsewhere, we will transfer your small pension to your new pension administrator. You do not have to do anything for this.

If you have accrued a very small pension of less than €2 per year, then the amount is too small to transfer to your new pension administrator. This is regulated by law. BeFrank will donate the amount to charity.

Surviving dependants’ pension

Are you starting a new job without a pension scheme? And have you previously accrued pension under the new pension law? Then you have the option of continuing the surviving dependants’ pension. However, this may be subject to conditions. For more information, take a look at your personal pension page.

Accruing pension with BeFrank

If you accrue pension with BeFrank through your new employer, you will receive an e-mail asking you to activate your personal pension page.

Your personal pension page provides details of your pension scheme. There are several choices you can make about your pension. For example, you can choose which investment profile works best for you and when you want to retire. This page also shows you exactly how much pension you are accruing and roughly how much benefit you will receive later.