Which pension choices do you have?

Your pension is personal, so you want to make your own decisions. With us, that’s not a problem. Your employer has opted for a pension scheme with BeFrank, and you get to make some important decisions too. We’ve listed your options below.

For a quick refresher on your BeFrank pension, watch the video.

Which pension choices do you have?

• Choosing your form of investment
  We invest your pension contributions. The amount of pension you receive later in life depends on the returns (gains or losses) on those investments. You decide how we invest your pension contributions. In doing so, you can choose one of our three forms of investment: Passive, Active and Sustainable.
  
  Good to know: whichever form of investment you choose, we always invest in honest companies. Your personal pension page tells you exactly how your form of investment affects your expected pension benefits.
• Choosing your risk profile
  In addition to your form of investment, you can choose a risk profile. After all, investing involves risk. Through your risk profile, you decide how much risk you want to take. At BeFrank, you can choose between five different risk profiles ranging from high risk to low risk.
  
  You can check your risk profile in a few simple steps through your personal pension page. We use the Profile Selector to help you choose the risk profile that is right for you.
• Risky investing based on age
  At BeFrank, we invest all your pension contributions. Our investment experts do that for you based on your risk profile. Each profile has its own investment model, which we call a ‘lifecycle‘.
  
  In all lifecycles, we invest with greater risk the younger you are. As you approach your retirement age, we invest with less risk. If you want us to reduce the risk earlier or later, you can let us know through your personal pension page.
• Do It Yourself investing
  At BeFrank, you can also opt for Do It Yourself investing. Your employer has to approve this, and you also need to demonstrate that you understand the investment process. For that reason, you will need to take our knowledge test first. Your risk profile also needs to show that you are willing to take risks.
• Accruing additional pension
  Want to accrue more pension? At BeFrank, that’s no problem. Most schemes allow you to make extra pension contributions. You decide how often you want to do that: it could be every month or just as a one-off.
  
  Your personal pension page tells you how much additional pension contribution you are allowed to deposit and how it will affect your expected pension.
• Supplementary insurance in case of passing away
  Your employer may give you the option in the pension scheme to take out supplementary insurance in case of passing away. Here, we distinguish between two insurance policies.
  
  Anw survivor benefit shortfall insurance – temporary additional income in case of passing away
  With an Anw survivor benefit shortfall insurance, your partner will receive an additional benefit if you pass away during your current employment. Your partner will receive this benefit until his or her state pension age. You pay the contribution for this insurance yourself. You can find the amount of the contribution at BeFrank on your personal pension page.
  
  Extra partner’s pension – lifelong higher partner’s pension in case of passing away
  Does your pension scheme comply with the new pension law? Then your employer can also offer you the option of insuring for extra partner’s pension. This ensures that your partner receives a higher pension income if you pass away during your current employment. This extra partner’s pension continues after your partner reaches the state pension age.
  
  More information on these supplementary insurances can be found here. And you can apply for these policies through the Survivor’s Pension Assistance on your personal pension page. 
  
  

For more information about investing your pension capital, watch this video: