How does my pension contribution help bring about a cleaner planet? BeFrank pension scheme members are now able to see this clearly on the Sustainable Impact Dashboard on their own online pension page. BeFrank is the first pension administrator to offer this.
People who accrue pension at BeFrank are free to choose how they invest and the related risk profile. One option is the green mix of sustainable investments offered by Triodos Investment Management. And while everyone is obviously free to make the choice that’s right for them, BeFrank sees promoting sustainability as a social obligation. ‘This dashboard helps us achieve that,’ says Jan Hein Rhebergen, Commercial Director of BeFrank. ‘It lets our members see how their pension contribution helps bring about a better world. In this way we both raise greater awareness and at the same time make pensions a lot more interesting.’
Making green investments visible
Pension scheme members who invest sustainably via BeFrank will now be able to immediately see the impact they are making through their investments. This is done on the basis of three pillars: waste production, water consumption and CO2 emissions. ‘Members who view their own investments see a clear and simple overview underneath them that states the impact they realise as a result. For example, how many litres of water are saved in this way. And by translating that to a certain number of showers, we make it even more concrete.’ BeFrank has also come up with something for members who do not yet invest green. They are shown the potential impact of sustainable investment when they view the different forms of investment. ‘We want to show our members in this way that choosing sustainable is a serious option. But they make their own choice,’ says Rhebergen.
Impact for businesses
Employees are also interested in this data. BeFrank customers already have access to an employer portal containing management information, such as the log-in percentage of employees. ‘We also want to present their employees’ impact data on the portal in the future. This will enable employers to ascertain how they as a company are, together with their employees, contributing to a better environment through their pension scheme. They can then publish this data in their annual report.’
Awareness of pensions
BeFrank now has nearly 180,000 members and approximately 2.5 billion euros in assets under manegement. They all have access to their own pension page on which they can see at a glance the status of their savings for later. The Sustainable Impact Dashboard has now been added to this. It’s another excellent example of BeFrank’s mission to increase awareness of pensions in the Netherlands. ‘We notice that offering choices – particularly this sustainable option – leads to great engagement with pensions,’ says Rhebergen.
BeFrank has been active in the group pension market since 2011 and is the first pension premium institution (PPI) in the Netherlands. BeFrank offers an online pension, straightforward communications and innovative services. It is part of NN Group.
For more information contact Isabelle van Ast. E-mail: email@example.com, Tel: +31 (0)20 5621118.