Have you built up a pension in NN CDC Pensioenfonds? And would you like to transfer this pension after 1 October 2022? Read below how this works.
If you are employed by NN, you will cease to build up a pension in NN CDC Pensioenfonds from 1 October 2022. Instead, you will build up a pension through NN's new pension administrator. As long as you stay employed by NN, you will not be allowed to transfer your pension accrual from NN CDC Pensioenfonds to the new administrator Be Frank. If you go to a new employer at some point in the future, a transfer will be possible. That's because you are entitled by law to transfer your pension to your new employer’s pension administrator.
Care for all
NN CDC Pensioenfonds has a duty to act in the best interests of all its participants. If the pension fund were to facilitate a value transfer to Be Frank while you are still employed, this could be detrimental to participants staying behind in the pension fund. For example, there could be a negative effect on the indexation of pensions for pensioners and former employees. The pension fund wants to avoid this. Moreover, the pension fund would need to get approval from the Dutch central bank (DNB) for the value transfer. In similar cases, DNB has not given such permission.
Quote before 1 October
It is up to you to decide whether or not you wish to transfer your pension to a new administrator. The pension fund's comparison tool ‘Pensioenvergelijker’ will help you decide. If you work at NN and submitted a request for a value transfer to the pension fund before 1 October 2022, your request will remain valid if the calculation date of your value transfer was before 1 October 2022.
However, if you received a quote from us but didn't submit your signature of approval within the legal term of two months, your value transfer will be cancelled. All requests for value transfers after 1 October 2022 must be sent to Be Frank.
Here's a checklist showing the six steps of a value transfer.
Good to know
Please visit the website for more information. Do you have any questions about your pension after 1 October 2022? We have collected a list of the most relevant questions and answers. If you cannot find what you’re looking for, please get in touch with the Pension Desk.
