Online pension provider BeFrank and the Premium Pension Institution (PPI) of Nationale-Nederlanden have officially started operating under the same name, BeFrank.

The merger, which completed on 1 July, of both PPIs was announced at the end of last year as a consequence of the takeover in 2017 of parent company Delta Lloyd byNN Group. Both brands were already among the larger players in the PPI market.

The new combined PPI has around 170,000 members and €2.5bn in assets under management, making it one of the market leaders.

BeFrank was in 2011 the first premium pension institution in the Netherlands. By using smart online services, BeFrank wants to make pensions understandable for every Dutch citizen.

Existing clients of the NN PPI will keep receiving their current services while their arrangement is in place. New offers will from now on be made under the BeFrank name.

“BeFrank will continue on the same course, also after this merger," said BeFrank commercial director Jan Hein Rhebergen.

“That way, we offer our members not only an understandable pension, but also convenience and freedom of choice.

"Recently we have created a whole new online environment that makes it even easier for members to review
and make changes to their pension. Over the coming period we will further expand these options for members. This also fits within the trend towards further individualisation and with our mission to bring
pensions closer to the member.”

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