New Dutch pension contracts and lessons for other countries

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Abstract

This paper summarizes recent developments in Dutch occupational pensions of both the DC and DB type. A reform of DB schemes is discussed that introduces financial assets as individual entitlements. At the same time, the reformed schemes derive (dis)saving, financial risk management and insurance decisions from the explicit objective of adequate and stable lifelong retirement income. In fact, the proposed system involves not only financial assets in individual accounts but also an insurance contract pooling longevity risks and possibly collective buffers that share systematic risks with future pension savers. The paper identifies the strengths and weaknesses of the Dutch contract design and draws lessons for other countries.
Original languageEnglish
Place of PublicationTilburg
PublisherNETSPAR
Number of pages22
Publication statusPublished - Sep 2017

Publication series

NameNetspar Academic Series
VolumeDP 09/2017-014

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    Bovenberg, L., & Nijman, T. (2017). New Dutch pension contracts and lessons for other countries. (Netspar Academic Series; Vol. DP 09/2017-014). NETSPAR.