Questions NN

Last June, the trade unions accepted the new CLA for NN, which includes the new pension plan. It was decided to transfer our pension plan to a defined contribution plan, which will be administered by BeFrank, with effect from 1 October 2022.

Until 30 September 2022, you will be building up pension rights in NN CDC Pensioenfonds.
After that, your pension accrual in this pension fund ends.

Yes it will, but only by way of annual increases (partial or full) to keep up with inflation. This is also referred to as indexation.

Fortunately, the pension fund's financial position is sound so the pension fund is able to sustain the accrued pension entitlements of employees, former employees and pensioners. More information about this is available on the website.

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, your value transfer will be cancelled. All requests for value transfers after 1 October 2022 must be sent to BeFrank.

We will follow-up on the pending value transfer. Here's a checklist showing the six steps of a value transfer.

If your pension is less than € 520,35 gross per year (in 2022), the new pension administrator can pay out the amount as a lump sum if you agree. Please get in touch with BeFrank to arrange for this.

If your pension is less than € 520,35 gross per year (in 2022), your new pension administrator can pay out the amount as a lump sum if you agree. Please get in touch with BeFrank to arrange for this.

You will continue to build up a contribution-free pension. However, your contribution-free pension accrual is maximised at the degree of your occupational disability on 1 October 2022 or the end of your employment contract, whichever occurs first.

You will start building up a pension at NN's new pension administrator. From the day your WIA benefit starts, you will get a contribution-free pension. We will insure this for you based on the degree of the your occupational disability as at the first day that you receive your WIA benefit. We will not insure any increase in the degree of the your occupational disability occurring after that date.

Yes, it will. This pension option will still be available after 1 October 2022. Please report your choice to us well ahead of time (no later than four months before your retirement date) using this form.

It is expected that you will be allowed to withdraw a lump sum of up to 10% when your retirement starts with effect from 1 January 2024 . This pension choice will be included in the Pension Planner from 2023, so you can make calculations for it. Contact the Pension Desk to apply for it.

No, that will not be possible. However, you will be able to increase your old age pension with the pension options available to you, although this does have consequences.

Examples include:

• Raising your old age pension benefits until you reach your Dutch state pension retirement age (AOW). This will mean that your old age pension benefits after that date will be lower for the rest of your life. It’s important for you to be aware of this.
• Converting your partner pension into a higher old age pension. This will result in a lower pension for your partner. It’s important for you to be aware of this.
• Varying the amounts of your pension benefits. For example, if you opt for higher old age pension benefits during the first years of your retirement, your old age pension benefits after that will be lower for the rest of your life. It’s important for you to be aware of this.
• It is expected that you will be able to withdraw a lump sum from your pension (up to 10%) with effect from 1 July 2023. Make sure you check in advance whether this will have any adverse effects on other things, such as allowances. 

Even though you will no longer be building up a pension in our pension fund, you will still be able to be in touch with the us! For example, to register your partner if you move in together, to report your pension choices or to change the bank account to which we'll pay your future pension benefits.

Yes, you certainly can. Please get in touch with your current pension administrator to arrange for this.

No, the transfer will not affect you. Just like now, you will be able to get in touch with us whenever pension is relevant to you:

• For information about your monthly pension benefits, such as payment dates, go to
• For information about your annual pension overview (UPO)
• If you are relocating abroad
• If your relationship ends
• To report a new bank account number

Even if you stay in employment at NN, your risk-based surviving dependants’ pension will be terminated. The pension fund will automatically convert part of your old age pension into savings-based surviving partner pension.

After implementation, you will receive an overview with the amounts. You may cancel the automatic conversion, provided you report this to us within six months. Your partner will need to sign for approval. Note that there are risks attached to cancellation of the conversion: if you pass away, your surviving dependants will receive a lower surviving dependants’ pension. The cancellation statement and conditions can be found on the website.

From 1 October 2022, you will no longer build up a pension in NN CDC Pensioenfonds. We are currently in the process of adjusting our administrative systems to this situation. During this time, you will temporarily be unable to use the Pension Planner to give you insight into your pension and make calculations. For insight and calculations, please go to the Pension Desk.

‘My Pension’ is your on-line pension environment, where you can make arrangements regarding your pension, read documents, check how much pension you've built up and how much you could ultimately reach. The latter option will be discontinued. From 1 October 2022, the amount of your pension accrual will be equivalent to what you could ultimately reach. The adjustment of ‘My Pension’ will take some time.

The government's website Mijnpensioenoverzicht.nl gives you an overall summary of all the pensions you’ve built up through NN and other employers. From 1 October 2022, the amount of your pension accrual will be equivalent to what you could ultimately reach. The adjustment of Mijnpensioenoverzicht.nl will take some time.

If you have any questions about your pension at BeFrank, please get in touch with customer services at 020-5621100 or by email.

From end October, the pension fund will inform you personally. Information will also be posted on the website.