ABP and Bpf Bouw, two of the largest four pension funds in the Netherlands with over €600bn in assets between them, have sold their shares in Tesla over ESG concerns
I work for a big company, and moved my pension. And I can invest it, in almost whatever I want.
And because the yearly fee for the funds i choose is less than what my company payed before. I get payed the difference, which is nice.
Cool! So how do you do that? If I go to e.g. the ABP site, I see no way to sign up. (Both ABP and BPF Bouw are sector-specifc too, I suppose, maybe that’s the issue? But looking at a more generic pension provider, they mention either being part of HR, or self-employed…)
No it means the money for my pension is added to my salary. Same goes for ehh… “Holiday money”. Normally the company saves a small part of your salary to pay out once a year. Usually end May i believe.
So in my case, my monthly income is much higher, but it means i have to save it myself. Same goes for my pension. Instead of my employer paying the pension funds, i have to do it myself.
Ha I mean, that situation is indistinguishable from one where you don’t get a pension and your salary is the same, but sure :P
You do miss out on the tax benefits that employer-provided pensions give you, but in many cases that’s a fine trade-off.
Still, the actual point I wanted to make (but didn’t) stands: most of us can’t really switch our pension funds, which is a bit of a shame, because it means we can’t “vote with our wallet” for a pretty significant chunk of our wallet :( If my pension fund decides to invest in cluster bombs, I’m investing in cluster bombs…
I work for a big company, and moved my pension. And I can invest it, in almost whatever I want. And because the yearly fee for the funds i choose is less than what my company payed before. I get payed the difference, which is nice.
Cool! So how do you do that? If I go to e.g. the ABP site, I see no way to sign up. (Both ABP and BPF Bouw are sector-specifc too, I suppose, maybe that’s the issue? But looking at a more generic pension provider, they mention either being part of HR, or self-employed…)
Well I live in Norway, I guess not every county are able to move it freely?
Oh OK, yeah when I said “we”, I meant Dutch people - as far as I know Dutch people aren’t able to choose our own pension funds.
Ah fair fair, I see that now, sorry for giving you false hope haha
Haha no worries
Our company doesnt “meddle” in staff’s pensions. The idea is that i know better what fits me then my boss does.
Next Monday i have talks about my pension, so i can tell you then ;-)
Ha, does that mean they simply don’t give you a pension? Or is it the case that you pick one and they handle it?
But yeah, sounds like it’s specific to your company, unfortunately.
No it means the money for my pension is added to my salary. Same goes for ehh… “Holiday money”. Normally the company saves a small part of your salary to pay out once a year. Usually end May i believe.
So in my case, my monthly income is much higher, but it means i have to save it myself. Same goes for my pension. Instead of my employer paying the pension funds, i have to do it myself.
Ha I mean, that situation is indistinguishable from one where you don’t get a pension and your salary is the same, but sure :P
You do miss out on the tax benefits that employer-provided pensions give you, but in many cases that’s a fine trade-off.
Still, the actual point I wanted to make (but didn’t) stands: most of us can’t really switch our pension funds, which is a bit of a shame, because it means we can’t “vote with our wallet” for a pretty significant chunk of our wallet :( If my pension fund decides to invest in cluster bombs, I’m investing in cluster bombs…
Thats exactly why i dont have employer based pension funds. Because i prefer not to invest in bombs, but maybe my collegue wants to.
Its the first time i work for a company that works this way so its all new and exciting still :)