Why isn't our pension fund transferring to Pensioenfonds ING?
Our coverage ratio is lower than the coverage ratio of Pensioenfonds ING. It is therefore disadvantageous for our pensions to transfer to Pensioenfonds ING before the introduction of the new rules for pensions. But first introducing the new pension rules ourselves and then transferring to Pensioenfonds ING is not an option either. Then we would have to remain in the air as a fund for several more years. That is not desirable because we are already too small to continue on our own for long. Moreover, this also involves very high costs.
Why isn't our pension fund transferring to BeFrank?
We want to provide a comprehensive solution for everyone. If we were to transfer to BeFrank, we would have a problem with our pensioners, because BeFrank cannot take over the payment of current pension benefits. That would mean a different pension administrator would have to carry out the payments. We have looked into this, and found it would be particularly detrimental to pensioners with low pension benefits. That's something we don't want - we uphold the principles of solidarity and will continue to do so.
Would I be able to transfer my pension to BeFrank by myself?
No, that isn’t possible. The reason is that, by law, as soon as there are more than five requests for an individual pension transfer, they qualify as a collective value transfer. In that case, the Dutch central bank (DNB) has certain requirements that would eventually be detrimental to the value of your pension.
