European pension systems are in crisis. Governments and employers are withdrawing as plan sponsors, making institutional innovation imperative. Collective, stand-alone pension plans—as seen in the Dutch system—offer an attractive hybrid model between corporate defined-benefit plans and individual defined-contribution plans.
|Title of host publication||The Future of Life-Cycle Saving and Investing|
|Subtitle of host publication||The Retirement Phase|
|Editors||Z. Bodie, L.B. Siegel, R.N. Sullivan|
|Place of Publication||Charlottesville|
|Number of pages||90|
|Publication status||Published - 2009|