Wim de Vink, an independent entrepreneur, started building his pension too late and now has to continue working beyond his retirement age. Experiencing ‘pension regret’, Wim aims to prevent others from making the same mistake by raising awareness of building up a pension through the Trade Association of Handymen (Vereniging Landelijk Overleg Klussenbedrijven - VLOK). Nick Leben, Sales Manager at a.s.r. pensions, connects with the association, leading to a valuable collaboration.
After various jobs with hardly any pension accumulation, Wim began renovating kitchens in 2004 at the age of 45. Building a pension was not his priority as a starting entrepreneur: ‘The money I earned, I mainly invested in my business.’
When he turned 60 years old and saw his peers retiring, Wim realised he had started saving for his retirement too late: ‘I realised that I did not have an adequate pension scheme in place, which means I have to continue to work until I am 70 years old.’
A distant concern
As former chair of VLOK, Wim felt responsible for increasing pension awareness among fellow entrepreneurs. ‘I wanted to prevent others from making the same mistake and experiencing pension regret.’ He is urging the current chair, Dennis Kosten, for the association to take action for the financial security of its members.
Dennis contacted a.s.r. via the Pensions website. Nick recalls: ‘When Dennis called, it quickly became clear that we could offer something meaningful for VLOK members. The association represents a large pool of self-employed professionals in the construction industry. Many are not focused on their pension. Building a financial buffer for later often feels like a distant concern and pensions are perceived as a complex subject.’
Together with Dennis and other board members, Nick mapped members’ needs and explained what a.s.r. could offer. This establishes a partnership in which VLOK motivates its members to take action, while a.s.r. Vooruit provides support in arranging their individual pension plans.
Strong interest
During VLOK’s general meeting, Nick introduced the pension plan: ‘All these self-employed professionals, who usually talk to suppliers about discounts on toilet bowls, were sitting on the edge of their seats asking questions. Some were critical and sceptical, but interest was strong.’
Members are informed too about the importance of building up a pension through webinars, newsletters, and a dedicated landing page. With a free telephone consultation and a discount – no administration fees are due in the first year – members are encouraged to start building their pension. ‘Many accounts have already been opened and funds deposited,’ Nick says proudly.
The collaboration soon extended beyond pensions. Nick and colleague Vincent Blaauboer then involved the Income department: ‘VLOK has a bread fund for self-employed professionals who become incapacitated. Income could potentially link to this with an additional disability insurance product,’ Nick explains. ‘Discussions are ongoing and promising.’
Too late
Wim remains pragmatic about not being able to benefit himself from the pension accrual possibilities he helped to initiate: ‘I am simply too late, so I have to keep working. Fortunately, I love my craft and my mortgage is nearly paid off.’
Nick stresses that Wim is far from alone in this: ‘According to CBS, around 13% of workers were self-employed in 2023, and this number continues to grow. Many postpone building up a pension, which can lead to financial problems. As a financial service provider, we see it as our responsibility to prevent this and make building up a pension as easy as possible. That way, entrepreneurs can focus on what they do best: running their business.’