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Understanding demand for flexible pension payouts: evidence from the Netherlands

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  • Dillingh, Rik
  • Zumbuehl, Maria

Abstract

This study examines the interest in different pension payout schemes when full annuitization is the default. We focus on three possible pension payout schemes: a flat-rate annuity, a high/low annuity-based profile, and a partial lump sum at retirement with a lower flat-rate annuity after that. We make use of a vignette study and find substantial interest in each of the three payout schemes. Interest in the lump sum scheme increases when a higher percentage can be taken out as a lump sum or when interest rates or replacement rates are lower. Interest in a high/low annuity-based profile increases when the high annuity is valid for a shorter period.

Suggested Citation

  • Dillingh, Rik & Zumbuehl, Maria, 2024. "Understanding demand for flexible pension payouts: evidence from the Netherlands," Journal of Pension Economics and Finance, Cambridge University Press, vol. 23(3), pages 390-412, July.
    • Handle: RePEc:cup:jpenef:v:23:y:2024:i:3:p:390-412_3
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