What is a defined contribution scheme?

BeFrank is a Premium Pension Institution (PPI). We operate a defined contribution scheme. But what does that mean?

Your pension contributions are invested. With a defined contribution scheme, the amount of your pension is not fixed in advance. The amount you ultimately receive depends on the return on your investments and the interest rate at the time of your retirement.

You have your own pension account

You have your own BeFrank pension account, which is where your contributions are deposited. We invest these contributions for you until your retirement date. 

Want to know how your investments are doing? Log in to your personal pension page at any time of day to see the return on your investments.

You decide how your premium is invested

At BeFrank, you decide how we will invest your pension capital and how much risk you want to take with your investments. Our Profile Selector helps you choose an appropriate profile.

If your personal situation changes, it’s a good idea to review your choices. Do they still match your situation? Could you take any more or less risk? The Profile Selector can also help you make this decision.