The Future of Retirement and the Pension System

How the Public’s Expectations Vary over Time and across Socio-Economic Groups

L. Bissonnette, A.H.O. van Soest

Research output: Working paperDiscussion paperOther research output

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Abstract

We analyze expectations of the Dutch population of ages 25 and older concerning the future generosity state and occupational pensions, the two main pillars of the Dutch pension system. Since the summer of 2006, monthly survey data were collected on the expectations of Dutch households concerning purchasing power of occupational pensions, eligibility and purchasing power of old age social security benefits, and the average retirement age ten or twenty years from now. We investigate how these expectations have changed over time and how they vary with socio-economic characteristics. Exploiting the fact that we have data until September 2010, we also analyze the effect of the recent financial and economic crisis. We find significant differences in expectations of different socio-economic groups, mainly suggesting that groups who are probably better informed were also more pessimistic.
Original languageEnglish
Place of PublicationTilburg
PublisherEconometrics
Volume2011-065
Publication statusPublished - 2011

Publication series

NameCentER Discussion Paper
Volume2011-065

Fingerprint

pension
retirement
purchasing power
economics
Group
retirement age
old age
social security
economic crisis
financial crisis
time

Keywords

  • subjective probabilities
  • old age social security
  • occupational pensions

Cite this

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The Future of Retirement and the Pension System : How the Public’s Expectations Vary over Time and across Socio-Economic Groups. / Bissonnette, L.; van Soest, A.H.O.

Tilburg : Econometrics, 2011. (CentER Discussion Paper; Vol. 2011-065).

Research output: Working paperDiscussion paperOther research output

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AB - We analyze expectations of the Dutch population of ages 25 and older concerning the future generosity state and occupational pensions, the two main pillars of the Dutch pension system. Since the summer of 2006, monthly survey data were collected on the expectations of Dutch households concerning purchasing power of occupational pensions, eligibility and purchasing power of old age social security benefits, and the average retirement age ten or twenty years from now. We investigate how these expectations have changed over time and how they vary with socio-economic characteristics. Exploiting the fact that we have data until September 2010, we also analyze the effect of the recent financial and economic crisis. We find significant differences in expectations of different socio-economic groups, mainly suggesting that groups who are probably better informed were also more pessimistic.

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