FAQ - BeFrank

How can I get advice?

It is wise to get advice when purchasing your pension, so that you choose a pension that suits your personal situation. Read more about this on Pension advice.

Will BeFrank pay out my pension?

No, we won’t. We will take care of your pension capital until the moment you retire. When you retire, you will purchase a pension from a pension administrator with the total value of your investments (together with any other pension pots). You yourself will choose which pension administrator to do this with.

When can I retire?

You choose when you will retire. You can do so any time from 10 years before your state pension age (AOW) until 5 years after it. You can let us know when you want to retire on your personal pension page.

What is partial retirement? And how do I arrange it?

You can use some of your pension capital to purchase a pension benefit. In that case, you will partially retire. In addition, you will carry on working several hours a week. You will only continue to accrue pension on the hours you work. And you can use this to purchase another pension benefit later.

If you want to take partial retirement, please send an email to klantenservice@befrank.nl.

How often do you adjust the expected pension amount?

The expected pension amount depends on your pension capital. That can change every day due to fluctuations in the stock market. That’s why we adjust your expected pension amount every day. Every quarter, we refresh the data from De Nederlandsche Bank. Your personal pension page will always show the current situation for your pension.

Why do you use DNB data to calculate my expected pension?

To estimate what your pension capital can yield in terms of expected pension, De Nederlandsche Bank (DNB) calculates how the economy will develop over time. DNB uses 2,000 scenarios for this purpose. We call this the Uniform Calculation Methodology (UCM). All pension administrators in the Netherlands have been working with this since 1 October 2019. And it has been mandatory for the expected pension amount on mijnpensioenoverzicht.nl and the Uniform Pension Overview (UPO) since 2019. We want the amounts you see to match. We also use this calculation method on your personal pension page.

Will my pension capital also decrease if my expected pension decreases?

Your expected pension benefits are an estimate; your accrued pension capital will not change as a result.

We use data from De Nederlandsche Bank (DNB) to calculate your expected pension. That data consists of 2,000 scenarios that take into account the development of equity returns, interest rate trends and price increases. DNB publishes every quarter new data, which we use to recalculate your expected pension.

What happens to my pension money if BeFrank or NN goes bankrupt?

Your pension money at BeFrank is and remains yours. That is regulated by law. Creditors cannot access your pension money.