With the new pension law recently passed by the Senate, a lot is about to change. Not only when it comes to retirement pension, but also surviving dependants’ pension. To best guide participants through the choices that are going to come up for the surviving dependants’ pension, we have developed the Survivor’s Pension Assistance. This tool has now been nominated for the Pension Pro Award in the ‘Innovation’ category!
Participants at BeFrank can track their pension 24/7 online on the app and their personal pension page. It is within this environment that we have developed the Survivor’s Pension Assistance. The Assistance gives a complete overview of everything that has been arranged by the employer for surviving dependants, as well as which choices the participant themselves can make additionally. We also show the effect when a combination of insurances is selected and provide additional information where needed. In doing so, we are preparing for a new legal standard to enable participants to make appropriate choices: choice guidance.
Personal and close by
By making retirement personal, we bring it closer to people. That is also our mission. Participants can enter the first names of their partner and children in the Survivor’s Pension Assistance. Not your surviving dependants receive an amount, but Barbara and Tom, for example.
Since its introduction last April, the Assistance has been viewed many times. We have also seen an uptick in the number of Anw survivor benefit shortfall insurance policies, one of the options within the surviving dependants’ pension, being applied for since going live. The feedback we’ve been getting on the tool has been very positive, with participants experiencing it as clear and straightforward. They also very much welcome the personal element. Something of which we are naturally very proud!