We take 4 funds under our own management

Why are we bringing 4 funds under our own management?
From 23 October, BeFrank, in collaboration with Nationale-Nederlanden, will bring 4 funds under our own management. As a result, we will have full control and oversight of the management of these funds. This will allow them to align even more closely with our own vision and strategy.

Which 4 investment funds are involved?
We are bringing the following 4 funds under our own management:

• First Class Return Fund
• Hybrid Fund
• First Class Return Index Fund
• Hybrid Index Fund

Why more control?
Having greater control over these funds allows us to align them more closely with our own vision and strategy. This applies, for example, to our choices in the area of sustainability.

It also enables us to respond more quickly to market changes and future developments. In addition, we can further strengthen our collaboration with the asset managers of the underlying investments.

As an employee, you will temporarily be unable to trade these funds
From Friday 9 October up to and including Thursday 22 October, you will not be able to buy or sell these 4 funds. Once the transition has been completed, you will be able to trade the funds as usual again.

What will change for employees, employers and advisers?
Nothing will change regarding the funds themselves, the fund names, the ISIN numbers, the pension administration or existing agreements. The pension scheme, investment approach, lifecycles, risks and costs will all remain the same.

We will, however, update the fund documentation for these 4 funds, such as the factsheets.

What you need to know about the transition to our own management
The transition to our own management will take place from Thursday 9 October up to and including Thursday 22 October. Your investments will remain invested throughout this period. We will not sell them or repurchase them. However, certain investment changes will temporarily not be possible. From Friday 23 October onwards, everything will work as usual again.

I am an employee. Where can I go with questions?
Is your question not answered on this information page? You can always send an email to klantenservice@befrank.nl. We are also available by telephone on business days from 09.00 to 17.00 on +31 20 562 1100. We are happy to help.

I have chosen Lifecycle Investing. Can I change my investment method?

This is not possible from Friday 9 October up to and including Thursday 22 October. From Friday 23 October onwards, you can change your investment style again as usual.

Why is this temporarily unavailable?
The 4 funds form part of Lifecycle Passive and Lifecycle Active. This will remain unchanged. If you want to switch your investment style, your current portfolio first needs to be sold. Only then can the funds that belong to your chosen Lifecycle be purchased.

For example:
You currently invest in Lifecycle Active and want to switch to Lifecycle Sustainable. Lifecycle Active includes 2 of the 4 funds. These funds cannot be sold during the transition period. As a result, you will only be able to switch from Friday 23 October onwards.

For more information about Lifecycle Passive and Lifecycle Active, visit our fund summery

What will I notice about the 4 funds being brought under our own management?
During the temporary transition period from Friday 9 October up to and including Thursday 22 October, certain transactions will not be possible.

• Changing your investment style will temporarily not be possible. For example, you cannot switch from Lifecycle Investing to DIY Investing with your own allocation.
• Would you like to make additional contributions? This is temporarily not possible.

From Friday 23 October onwards, your personal pension page will work as usual again. You will also find updated fund documentation on the Fund Overview page. The funds themselves, the risks, costs and your pension scheme will remain unchanged.

Will my investments be sold?
No. There is no need to worry. We will not sell your investments or repurchase them. Nothing will change in your investment portfolio. Bringing the funds under our own management will not affect the investments in which your money is invested. As a member, there will therefore be no changes to the composition of your portfolio.

Does the transition period apply to all funds?
No. The transition period only applies to the 4 funds that are being brought under our own management:

• First Class Return Fund
• Hybrid Fund
• First Class Return Index Fund
• Hybrid Index Fund

Can I log in to my personal pension page?
Yes, you can.

Can I make changes during the transition period?
That depends on the type of change. During the transition period, changes that result in the purchase or sale of units in the 4 funds will temporarily not be possible.

All other aspects of our services and your personal pension page will remain available.

I see the status ‘pending’. What does this mean?
Your personal pension page shows the status of your request. If you see ‘pending’ this means that we have received your request but have not yet completed it. Processing some requests may take longer than usual during this period. If this has an impact, we will ensure that it is processed correctly in line with the pension regulations.

Is my pension ‘safe’ during this change?
Yes. Bringing the funds under our own management will have no impact on the pension capital you have built up or on the investments held in these 4 funds. Your pension capital will remain invested and no investments will be sold or repurchased as a result of this change.

The only thing changing during the transition is who has control over the management of the funds.

Will my pension contribution be invested on time?
Your monthly pension contribution will continue to be paid and invested on the 1st day of each month in line with the pension regulations. Nothing will change in this respect.

Can I make a one-off additional contribution?
No, this is temporarily not possible.

I am an employee. 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. We are also available by telephone on business days from 09.00 to 17.00 on +31 20 562 1100. We are happy to help.

Will my investments be sold and repurchased?
No, there is no need to worry. We will not sell your investments or repurchase them. The composition of your funds (your investment portfolio) will not change. Of course, the value of your investments can still rise or fall.

You can submit an investment order up to and including Thursday 8 October. These orders will be processed through the regular process. From Friday 9 October up to and including Thursday 22 October, it will temporarily not be possible to submit new investment orders for the 4 funds that are being brought under our own management.

Have you submitted an order for 1 of these 4 funds on or before Thursday 8 October? We will process it as usual. You can track the status of your order on your personal pension page.

From Friday 23 October onwards, you can once again submit investment orders for all funds.

I see the status ‘pending’. What does this mean?
Your personal pension page shows the status of your request. If you see ‘pending’, this means that we have received your request but have not yet completed it. Processing some requests may take longer than usual during this period. If this has an impact, we will ensure that it is processed correctly in line with the pension regulations.

Can I place buy and sell orders by telephone?
No, this is not possible. Buy and sell orders can only be submitted through your personal pension page.

Can I rebalance my portfolio as a Do it Yourself investor with my own allocation?
Rebalancing ensures that your investments once again match the fund allocation you have chosen.

From Friday 9 October up to and including Thursday 22 October, you can still carry out a rebalance.
However, if your own allocation includes 1 or more of the following funds, rebalancing will take longer:

• First Class Return Fund
• Hybrid Fund
• First Class Return Index Fund
• Hybrid Index Fund

From Friday 23 October onwards, you will be able to rebalance your portfolio as usual.

I am a employee. Where can I go with questions?

Is your question not answered on this information page? You can always send an email to klantenservice@befrank.nl. We are also available by telephone on business days from 09.00 to 17.00 on +31 20 562 1100. We are happy to help.

Can I request a transfer of pension value?
Yes, you can still request a transfer of pension value.

What happens if I retire during the transition period?
During the transition period, investments held in the affected funds cannot temporarily be sold. As a result, in some cases the processing of a retirement may take longer than usual.

We expect this to affect only a small number of members. Most pensions commence on the 1st day of a month, while the transition period runs from Friday 9 October up to and including Thursday 22 October.

Are you retiring in October after the 1st? If so, please contact us.

I am an employee. 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. We are also available by telephone on business days from 09.00 to 17.00 on +31 20 562 1100. We are happy to help.

When will employers be informed?
Employers will receive a newsletter on Thursday 17 September informing them about the transition of 4 investment funds to our own management. The newsletter will explain what is changing and which funds are affected.

We will also inform employers about the impact on members, the temporary restrictions from 9 to 22 October, and the fact that nothing else is changing. In addition, we will refer them to the frequently asked questions on the BeFrank website.

Can employers continue to submit changes through the employer portal during the transition period?
Yes. During the transition period, employers can continue to submit changes through the employer portal as usual.

The transition period will not affect the submission of changes. You can continue carrying out the usual administrative activities for employers, such as reporting employees joining or leaving employment, salary changes and other updates.

How will the implementation of a (new) contract be handled?
The implementation of a new contract will continue as usual. The transition of 4 funds to our own management will not affect the implementation process for new pension schemes.

Employers can continue to take out and implement new contracts. Changes and data submissions can also continue to be processed as usual.

Will the transition to our own management affect the monthly pension contribution?
Employees’ monthly pension contributions will continue as usual and will be invested in the normal way.

Can I continue to submit changes through the employer portal?
Yes. As an employer, you can continue to use the employer portal during the transition period. You can submit changes such as new joiners, leavers, salary changes and other administrative updates.

Bringing the 4 funds under our own management will have no impact on the submission of changes. The employer portal will remain available, and you can continue carrying out your usual activities. Nothing will change.

Can I submit my UPA?
The automated submission of changes through Uniform Pension Declaration (UPA) will remain available.

Will the financial administration continue as normal?
Yes. The receipt of contributions and payments will continue as usual. This also applies to invoicing and direct debits.

Will bringing the funds under our own management affect monthly pension contributions?
Employees’ monthly pension contributions will continue as usual and will be invested in the normal way.

How does the implementation of a (new) contract work?
As an employer, you can continue to implement a new contract as usual. Bringing the 4 funds under our own management will have no impact on the implementation process for new pension schemes.

You can continue to enter into new contracts, submit data and report changes as you normally would. The temporary transition period from Friday 9 October up to and including Thursday 22 October will not affect this process.

Can we add, change or terminate a contribution payer?
Yes, this will remain possible.

Do we need to proactively inform our employees?
No, this is not necessary. Every employee will receive information from us in advance by email or post during the week commencing 21 September. In addition, employees will see a notification on their personal pension page.

If sending an email is not possible (for example because the member prefers to receive information by post or because the email address is incorrect), we will inform the employee by post. Postal delivery is expected between Tuesday 29 September and Saturday 3 October.