Pensions are about the future of your life

Online pension administrator BeFrank became a B Corp this year. ‘We’re very proud of that. As a pension administrator, we are involved in the future like no one else. We want to make a difference and make a healthy contribution,’ explains Jan Hein Rhebergen, Commercial Director at BeFrank. ‘In addition to the investments and choices we offer in pensions, we want to set a good example ourselves. The B Corp certification gives us an external validation that we are on the right track.’

‘It’s been a long journey to become a B Corp. One of the best learning moments came at the end,’ says Sustainability Project Manager Joy Hofman. ‘We realised that this was only the beginning and that becoming more sustainable is an ongoing process. And that we cannot do this alone, but want to be an inspiration for other companies. At the end of the day, we need to do this together.’ Rhebergen: ‘We have long sought an objective way to examine our organisation and product in a very transparent manner. This led us to becoming a B Corp, which we chose because it is a good fit for us. We are also a front-runner in other areas.’

Sustainability as part of pension choices

‘Because it’s about the future of your life, you will naturally arrive at sustainability,’ says Rhebergen. ‘Our ambition is to make sustainability a fundamental part of pension choices. Whether you are an employer or a participant, you want to and should be able to incorporate it into your considerations about how you build your future.’ Participants can choose the degree of sustainability of investments for their pension. This can be done, for example, by impact investing with Triodos funds. ‘We also provide insight into the savings you make in terms of CO2 emissions, water consumption and waste. By expressing this in the number of showers taken, bin bags used and kilometres driven, it becomes very tangible.’

Personal sustainability objective

‘In our own operations, we have started to look at what we are already doing well and what we can still improve. It turned out that we had already made quite some progress, but that not everything had been recorded,’ Hofman said. ‘We also consider it important to involve all BeFrank employees. That’s why we are asking everyone to set a personal sustainability objective. This allows everyone to contribute in any way they can.’ Hofman herself intends to send in a sustainability tip every week. Rhebergen’s personal goal is to leave his company car at home and to cycle to work at least a hundred times. ‘This not only sets a good example, I get the added bonus that I can clear my head on the way home.’

The new Pensions Act

BeFrank has been around for 13 years. ‘Our mission since Day 1 has been to make pensions more personal. We want you to understand your pension and have some input on it,’ explains Rhebergen. ‘Many Dutch people hardly have any idea how high their pension will be. This does not apply to BeFrank participants, 86% of whom have already logged on to the pension page at least once. At the very least, you want the participant to know what has been arranged.’ The new Pensions Act will bring about many changes. ‘You’ve got to make sure people understand what’s happening. If you handle it right, the transition is an opportunity. The big difference is that the pension becomes more individual and changes into a defined contribution scheme. These are two things that we already do and clearly explain.’

PensioenWegwijzer

BeFrank recently won the PensioenWegwijzer 2024 jury prize with the Survivor’s Pension Assistance. What has been arranged when you pass away before your retirement date? Rhebergen: ‘We’ve translated that question to a tool that brings the matter close to home and makes it personal, because you enter the first names of your partner and children. In addition to providing insight, we also give you the choice to insure additional cover, for example because you are the breadwinner. This not only provides insight into what has been arranged, but also allows you to determine what is needed for your family.’

Rhebergen: ‘Just like the B Corp certification, the PensioenWegwijzer confirms that we are on the right track. However, we will continue to work towards bringing pensions closer and towards a sustainable future.’

This article appeared 12 December in an edition of Innovatief Nederland, distributed bij Elsevier.