Why is BeFrank switching to a new investment administration, and what are the benefits?
We are continuously working to improve our online services for both employers and employees. With our new investment administration, we can:

• Process changes more efficiently
• Present information more clearly
• Continue to meet future requirements

This makes our services stronger and more reliable.

What you want to know about the new investment administration
The switch to the new investment administration will run from 13 until 31 May. We are carrying out this switch carefully and in a controlled manner. During this period, it will temporarily not be possible to submit changes to your investments. Your investments always remain yours. We will not sell them, nor will we buy them again.

For do it yourself investors, there are specific dates on which trading may be limited or unavailable. You can find more information under the heading “Employees who are do it yourself investors (with their own allocation)”.

From 1 June onwards, buying and selling will be possible again.

I’m curious. What does an investment administration do for BeFrank?
An investment administration is the system BeFrank uses to record and process everything that happens to your pension investments. This system:

• Keeps track of how much pension you have built up and how your money is invested;
• Processes the buying and selling of funds (for example when contributions are made or when you make changes);
• Creates the overviews you see, such as your funds, your returns and your transactions.

As part of the switch, the supplier of the investment administration is changing. Your investments themselves will not change, but during the switch we will temporarily not process changes.

Can I still log in to my personal pension page during the switch?
Yes, you can continue to log in to your personal pension page as usual. However, some functions will be temporarily unavailable.

Will my investments be sold?
No. There is no need to worry. We will not sell your investments, nor will we buy them again. Nothing will change in your investment portfolio. We are switching to a new the supplier for our investment administration.

During the period from Wednesday 13 May to Sunday 31 May, certain restrictions will apply. Please check the sections under the headings that include “Employee” to see which investment option applies to you. There you can read whether any restrictions apply to you, and if so, which restrictions apply and when.

Is my pension “safe” during this change?
The change relates to the administration. Your pension scheme and everything related to the management of your pension will continue as usual. Some processes will be carried out at a later moment temporarily.

Will the buying and selling of funds take place during the switch period?
No, during the switch period we will not execute any new buy or sell orders. Are you a do it yourself investor or a do it yourself investor with your own allocation? If so, please check the sections under the heading “Employees who are do it yourself investors (with their own allocation)”.

Does the switch to a new investment administration affect my choices?
This switch only concerns the new administration. Your pension scheme and your chosen investment option and risk level will remain the same.

What about my premium contributions?
Your premium contributions are paid on the 1st of each month, in line with the agreements set out in the pension regulations. Nothing will change in this respect.

Will I receive compensation if my premium contribution is processed later?
Yes. If there is a delay in the processing of your premium contribution, you will be compensated. This will be done in line with the agreements set out in the pension regulations. As a result, you will not miss out on any returns.

Can I make an additional one-off?
Yes, you can. An additional one-off contribution will be processed as of the 1st of the following month. You can therefore submit this contribution.

What happens to changes submitted by my employer during this period?
Changes submitted by your employer will be processed with a delay. You may only see these changes reflected on your personal pension page after 1 June.

How will I see the changes on my personal pension page from 1 June onwards?
Your changes may be processed step by step or in one go after 1 June. If they are processed gradually, you will not see all changes at the same time on your personal pension page. Once the switch has been completed, your personal pension page will be fully up to date.

Will everything be processed correctly applied to the relevant period?
Yes. After the switch, all changes will be processed by us in line with the agreements that have been made.

I do not see any investment information. Why is that?
On Saturday 30 May and Sunday 31 May, it is possible that you may temporarily not see up-to-date investment information on your personal pension page. This is due to the switch to the new investment administration.

I am a participant. Where can I go if I have questions?
Is your question not answered on this information page? You can always send an email to klantenservice@befrank.nl. On working days, we are available between 8:00 and 18:00 via WhatsApp on +31 6 8311 8659 or by phone on +31 20 562 1100. We are happy to help you.

Can I request a value transfer?
Yes, it is possible to transfer pension benefits that you have built up elsewhere to BeFrank. Please note that you may only see the amount of the value transfer reflected on your personal pension page after 1 June.

I am close to retirement. What does the new administration mean for me?
During the switch period from 13 to 31 May, processing times may be longer. Do you have any questions? Please feel free to contact us.

I am a participant. Where can I go if I have questions?
Is your question not answered on this information page? You can always send an email to klantenservice@befrank.nl. On working days, we are available between 8:00 and 18:00 via WhatsApp on +31 6 8311 8659 or by phone on +31 20 562 1100. We are happy to help you.

When will employers be informed?
Employers will receive an email from us on Thursday 23 April, in which we announce the switch to the new investment administration. What other information will this email contain?

• We ask employers to submit any changes that are already known as soon as possible, and in any case before Wednesday 13 May
• We also explain to employers what the switch to the new investment administration means for participants

All employers will also receive a reminder from us.

Why is it important for employers to submit changes before 13 May?
This is important because from 13 May onwards we will temporarily “freeze” the data in preparation for the switch to the new investment administration. If changes have not yet been processed or are submitted during the period from 13 until 31 May, they may be processed later or more slowly during this freeze period.

By submitting changes as soon as possible, and in any case before 13 May, participant data will be as up to date as possible when we migrate the data to the new administration.

How will the implementation for a (new) contract take place?
We deliberately schedule implementations of (new) contracts or contract renewals after the migration of our systems. This means employers will start immediately in an up-to-date environment, without temporary restrictions or waiting times. Participants will also be introduced to BeFrank through a participant portal that is fully functional.

Does the new investment administration affect the monthly premium contribution?
Employees’ monthly premium contributions will continue as usual. If there is nevertheless a delay in the processing of a premium contribution, we will automatically compensate participants in accordance with the standard arrangement, as set out in the pension regulations.

Is the employer portal affected by this switch?
The portal will remain available, but processing times may temporarily differ from what you are used to.

Can I continue to submit changes via the employer portal?
You can always submit changes via the employer portal. Please note that the processing of changes may be slower than usual and may only be completed after 1 June.

I see a notification or status “in progress”. What does this mean?
On the employer portal, you can (where possible) see the status of your request. If the status shows “in progress”, your request has been received but has not yet been completed.

Why are changes processed more slowly during the switch period (13–31 May)?
The switch to a new investment administration requires a careful, step-by-step approach. This means that we can only process changes at specific moments. As a result, the processing of changes may be slower than usual during this period.

Why is it important for employers to submit changes no later than 13 May?
This is important because from 13 May onwards we will temporarily “freeze” the data in preparation for the switch to the new investment administration. If changes have not yet been processed or are submitted during the period from 13 until 31 May, they may be processed later or more slowly during this freeze period.

By submitting changes as soon as possible, and in any case before 13 May, participant data will be as up to date as possible when we migrate the data to the new administration.

What happens to UPA submissions?
The automated submission of changes via pension declarations (UPAs) will remain possible. However, changes may temporarily not be fully processed. As a result, processing times may be slower than usual.

Is it possible that some changes will only be processed from 1 June onwards?
Yes, this may occur. If a change cannot be fully processed by Tuesday 12 May, it will be placed on hold and processed in the week of 1 June.

Will financial processing continue as usual?
Yes, the receipt of premiums and contributions will continue as usual. This also applies to invoicing and direct debits. Please note that processing may be slower or may take place after 1 June.

How will the implementation of a (new) contract take place?
We deliberately schedule implementations of (new) contracts or contract renewals after the migration of our systems. This ensures that employers start immediately in an up-to-date environment, without temporary restrictions or waiting times. Employees will also be introduced to BeFrank through a participant portal that is fully functional.

Can we add, change or terminate a contributor?
You can submit the request. Please note that processing may be slower or may only take place after 1 June.

How do we handle urgent changes?
Please submit urgent changes as soon as possible via the usual channel, and in any case before 13 May. Once we are able to process changes again, from 1 June onwards, we will process these requests.

Do we need to proactively inform employees?
No, this is not necessary. Every employee will receive information from us in advance by email or by post on 28 or 29 April. In addition, employees will also see a notification on their personal pension page.

If sending an email is not possible (for example, because a participant prefers to receive information by post), we will inform the employee by post. Postal delivery is expected to continue up to and including Tuesday 5 May.

What will employees notice on their personal pension page during the switch (13–31 May)?
Employees may notice that certain changes take longer to process and that some changes are temporarily not possible.

_{(1) Lifecycle investors cannot temporarily change their investment option. For example, switching from an Active Lifecycle to a Sustainable Lifecycle is not possible. The investment risk ranges from very defensive to very offensive. This risk level also cannot be adjusted.
(2) Do it yourself investors cannot temporarily switch to do‑it‑yourself investing with their own allocation or to lifecycle investing.
(3) Do it yourself investors with their own allocation cannot temporarily switch to do it yourself investing or to lifecycle investing.
(4) Which funds are available can be seen on the personal pension page. You can read more about the available funds under the headings “Employees who are do it yourself investors (with their own allocation)”.}

Does the new investment administration affect the monthly premium contribution?
Employees’ monthly premium contributions will continue as usual. If there is nevertheless a delay in the processing of a premium contribution, we will automatically compensate employees in accordance with the standard arrangement, as set out in the pension regulations.

Would you like to know more about how BeFrank invests your pension and the choices you can make?
We closely monitor developments in the market. Our investment policy is focused on the long term. To achieve this, we carry out extensive research to determine the optimal long‑term investment mix. We also take potential changes in the global outlook into account.
Would you like to know more? How we invest your BeFrank pension contribution – BeFrank

Will my investments be sold and bought again?
No, there is no need to worry. Your investments will not be sold and will not be bought again. Nothing will change in the composition of your funds (your investment portfolio). We are only switching to a new supplier for our investment administration.

Due to the renewal of our investment administration, it will not be possible to make changes to your investment option or investment risk from Wednesday 13 May until Sunday 31 May. Of course, the value of your investments may still rise or fall.

Will the buying and selling of funds take place during the switch period?
No, during the switch period we will not execute any new buy or sell orders.

Can I change my investment profile or risk level from Wednesday 13 May onwards?
No, you will temporarily not be able to change your investment profile or risk level. This applies to the period from 13 to 31 May. From 1 June onwards, you will be able to make changes again.

I see a notification or status “in progress”. What does this mean?
On your personal pension page, you can (where possible) see the status of your request. If the status shows “in progress”, your request has been received but has not yet been completed.

I am a participant. Where can I go if I have questions?
Is your question not answered on this information page? You can always send an email to klantenservice@befrank.nl. On working days, we are available between 8:00 and 18:00 via WhatsApp on +31 6 8311 8659 or by phone on +31 20 562 1100. We are happy to help you.

Will my investments be sold and bought again?
No, there is no need to worry. We will not sell your investments, nor will we buy them again. Nothing will change in the composition of your funds (your investment portfolio). We are only switching to a new supplier for our investment administration. Of course, the value of your investments may still rise or fall.

What does the switch to the new investment administration mean for me?
We are switching to the new investment administration step by step. As a result, you will only be able to trade in a limited number of funds from 22 until 26 May. From 27 until 31 May, trading in any fund will not be possible.

Logging in to your personal pension page will work as usual, but some changes cannot be submitted temporarily. Below, we have listed the key dates for you.

Can I buy or sell investments from Friday 22 May until Sunday 31 May?

• From Friday 22 May until Tuesday 26 May, buying and selling will be limited to the funds listed below.
  Please note: after 1:30 p.m. on 26 May, you will no longer be able to place any investment orders.
• From Wednesday 27 May until Sunday 31 May, buying or selling will not be possible at all.
• From 1 June onwards, you will be able to trade again.

On your personal pension page, you can easily see which funds are currently available.

Until what time can I trade on Tuesday 26 May?
After 1:30 p.m. on 26 May, you will no longer be able to submit any investment orders. If you have already placed an order, we will execute it as usual. You can see on your personal pension page when the order has been executed.

I see a notification or status ‘in progress’. What does this mean?
On your personal pension page, you can (where possible) see the status of your request. If the status shows ‘in progress’, your request has been received but has not yet been completed.

Can I submit my buy or sell orders by phone?
No, submitting orders by phone is also not possible. Buying and selling can only be done via your personal pension page.

I am a participant. Where can I go if I have questions?
Is your question not answered on this information page? You can always send an email to klantenservice@befrank.nl. On working days, we are available between 8:00 and 18:00 via WhatsApp on +31 6 8311 8659 or by phone on +31 20 562 1100. We are happy to help you.

Will my investments be sold and bought again?
No, there is no need to worry. We will not sell or buy any investments. Nothing will change in the composition of your funds (your investment portfolio). We are only switching to a new supplier for our investment administration.

Due to the renewal of our investment administration, it will not be possible to make changes to your investment option or risk level from Wednesday 13 May until Sunday 31 May. Of course, the value of your investments may still rise or fall.

For do it yourself investors with their own allocation, a few additional, specific rules apply during the switch period.

Can I carry out a rebalance?
A rebalance brings your funds back in line with your chosen allocation. Rebalance instructions submitted from 13 until 22 May will be processed on 1 June. Rebalancing is not possible from Friday 22 May until Sunday 31 May. From 1 June onwards, this will be possible again.
Do you have any questions about this? Please send an email to klantenservice@befrank.nl.

Can I submit my buy or sell orders by phone?
No, submitting orders by phone is also not possible. Buying and selling can only be done via your personal pension page.

When will my open buy or sell orders from Thursday 21 May be executed?
Did you submit an order to adjust your own allocation on Thursday 21 May? In that case, your order will be processed from 1 June onwards. Once the change has been processed, you will see the new allocation on your personal pension page.

Please note: from Friday 22 May onwards, you will no longer be able to submit any investment orders.

I see a notification or status “in progress”. What does this mean?
On your personal pension page, you can (where possible) see the status of your request. If the status shows ‘in progress’, your request has been received but has not yet been completed.

I am a participant. Where can I go if I have questions?
Is your question not answered on this information page? You can always send an email to klantenservice@befrank.nl. On working days, we are available between 8:00 and 18:00 via WhatsApp on +31 6 8311 8659 or by phone on +31 20 562 1100. We are happy to help you.

Below we summarise the most important changes. You will see other minor adjustments on your personal pension page.

• For all participants:
  • The transaction overview and order overview will be merged into a single overview. This makes it clearer and easier to use.
  • Rounding differences of units (units are parts of an investment fund): the new investment administration works with an accuracy of 4 decimal places instead of 6. During the switch, existing units will be rounded up, in favour of participants. You will see this reflected in your transaction and order overview.
  • The historical value in the “My funds” overview will no longer be shown. Instead, you will see the heading “Return”, and the value will be expressed in euros per fund.

• For all do it yourself investors:
  • You will now submit sell orders for investments in euros, rather than in units. When selling part of a fund, a maximum of 95% of the value applies. This is 95% of the current value of that fund. We do this to allow for possible price fluctuations.
  • For a few funds, you currently pay €3 in purchase costs per order. Good news: these costs will be abolished as of 1 June.
    
• For do it your self investors with own allocation:
  • Would you like to carry out a rebalance to bring your investments back in line with your chosen allocation? You will no longer see a rebalance proposal. Instead, once you give your approval, the rebalance will be executed immediately.

Download the new guide from 1 June
We have released a new version of the Do it yourself investing guide. From 1 June onwards, please download the latest version via your personal pension page, under “Documents”.

I am a participant. Where can I go if I have questions?
Is your question not answered on this information page? You can always send an email to klantenservice@befrank.nl. On working days, we are available between 8:00 and 18:00 via WhatsApp on +31 6 8311 8659 or by phone on +31 20 562 1100. We are happy to help you.