BeFrank Reviews 3

I sent two urgent emails last week and a week later I have still not received a response. How can customer service be so bad?

BeFrank is one of these new Premium Pension Institutions (PPI) where the company takes no responsibility and isn't required to take out any insurance. They don't guarantee any pension benefits like other typical Dutch pensions.

They invest the funds and charge management fees. They have delivered negative financial performance. In the case of my personal fund, my pension is now worth less than the contributions I have put into it. I am paying into the fund so that this company can withdraw any returns, and more, in fees.

Their website is broken so I cannot self-service. I emailed customer support but didn't get a response. I emailed again a week later, still no response. I then messaged their WhatsApp support channel; also no response.

Their fund is meant to be defensive yet it has delivered a negative return. If they had simply put the funds in gilts or bonds, they could have returned an increase to me.

When I discuss this with them by phone, they do not deny any of this but say instead that I can do nothing about it! My employer has chosen BeFrank and I am stuck with them.

As one of the other reviewers has written, complaining of the same negative portfolio performance, PRUTSERS!!!

BeFrank claims itself to be a modern pension company.
However, the way they manage their customers is anything but modern.
In April 2019 I had applied for a value transfer from my old BeFrank account to my new one (also BeFrank). It took them 5 months to confirm it, only after I had to follow up multiple times with them.
When I checked my pension overview again this month, I found out that the process had not yet gone through.
I followed up with BeFrank 2 times over the e-mail channel through which they had communicated with me. There was no response.
I finally managed to get in touch with them over Whatsapp, where I was informed that there was a "problem" with the process and that it hadn't gone through. They assured me that any loss of amount will be "compensated". I still haven't received any confirmation of how much that amount will be. So I sincerely doubt if this will go through.
There's a lot for BeFrank to improve as far as providing timely and relevant communication is concerned.