About to retire: these are your options
We invest your pension capital for you. You use your accrued pension capital to purchase a pension. On this page, we explain what options you have for your pension benefit.
You choose your own pension benefit
You choose the pension administrator from which you purchase a pension. Good to know: This is not possible at BeFrank. Only pension accrual goes through us.
We guide you as best we can towards your retirement. Six months before your state pension age, you will receive an email from us with all the information about the amount of your current pension capital. See what choices you can make before you retire. We recommend working with a pension adviser to see which pension administrator and pension best suits your situation.
What choices can you make when you retire?
- Do you want to retire earlier or later?
- Do you want to retire fully or partially?
- Do you want to combine pension pots?
- Will you opt for a variable or fixed pension?
- Do you want to insure a partner’s pension after retirement?
Retiring earlier or later
You choose when you will retire. Do you want to retire earlier? You can do so from 10 years before your state pension age. On the contrary, do you want to work longer? Then you can defer your pension until no later than 5 years after your state pension age. Note: Your employer will stop paying pension contributions at some point. Exactly what age this is can be found in your pension regulations.
Do you want to see how your pension will be affected if you stop working earlier or later? You can see your choices on your personal pension page. And please notify us of your desired retirement date at least 3 months before you retire.
Full or partial retirement
Don’t want to fully retire yet? Because you want to keep working (part of the week), for example? You can. You can use some of your pension capital to purchase a pension benefit. You will then partially retire and continue to work at the same time. You will only continue to accrue pension on the hours you work. And you can use this to purchase another pension benefit later.
Want to partially retire? Then please send an email to klantenservice@befrank.nl.
Combine pension pots
Have you also accrued a pension with other pension administrators? Or do you have a small pension? Then you can combine your pension pots to buy one pension from the pension administrator of your choice. At mijnpensioenoverzicht.nl, you will find an overview of all your pension pots. Please note that your details on mijnpensioenoverzicht.nl are updated quarterly.
Fixed or variable pension
A fixed pension means you will get the same amount paid into your account all your life. After your retirement date, you will stop investing. As a result, you do not run the risk of your pension being decreased. At the same time, you don’t get the chance of a higher pension either.
Important to know: Your pension amount will remain the same, but due to price increases (inflation) the value may decrease. You will then be able to do and buy less with the same pension.
With a variable pension, you will continue to invest (part of) your pension capital after your retirement date. This gives you a chance of a higher pension. Your pension may decrease or increase annually, potentially moving along with future price increases. You will then be less affected by inflation.
Securing a partner’s pension
In addition to your (retirement) pension, you can also purchase a partner’s pension. Your partner will receive this pension when you die. But what if you don’t have a partner? Or if, for example, your partner has accrued a good pension himself or herself, or you have a much younger partner? Then you can also buy only an (retirement) pension or choose to insure a lower partner’s pension. Your pension benefit will be higher in this case. If you have a partner, then your partner must agree to this.
Are you approaching retirement?
At www.befrank-pensioenuitkering.nl you can calculate your expected pension at your retirement date with different pension administrators. Choosing the right pension benefit is important. A pension adviser can help you with this. You can find more information about retirement on your personal pension page under ‘What happens when you retire’.