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Pensions and public opinion: a survey among Dutch households

  • P.J.A. van Els
  • W.A. van den End
  • M.C.J. van Rooij

This paper reports on the findings of a survey among Dutch households (as part of the DNB Household Survey in 2003) about many aspects (expectations, concerns, attitude and preferences) of their pensions and the old-age-arrangements in the Netherlands. We explore whether the outcomes are related to specific financial and non-financial household or personal characteristics. A clear majority of the Dutch public expects public pension schemes to be retrenched and rejects reforms that infringe on what they regard as acquired rights. One would rather like to pay higher contributions until the age of 65. The divergence in preferences towards retrenchment measures across generations indicates that intergenerational risk sharing is not something natural. The public prefers to have their pension build-up managed by pension funds and would accept having to pay higher contributions in exchange for guaranteed benefits. Yet, a substantial minority advocates a greater freedom of choice. Surprisingly, this preference for freedom is not linked to particular household characteristics, nor does it reflect the particular interest of those who already have third pillar pension provisions. Many, however, are as yet not concerned about their pension rights, adopting a "we'll see about that when we come to that" attitude. This manifests itself in a substantial lack of knowledge about one's own personal pension arrangements, notably for young generations, women, low-skilled workers and people out of work.

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File URL: http://www.dnb.nl/binaries/serie2003-18_tcm46-147347.pdf
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Paper provided by Netherlands Central Bank, Monetary and Economic Policy Department in its series MEB Series (discontinued) with number 2003-18.

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Date of creation: Dec 2003
Date of revision:
Handle: RePEc:dnb:mebser:2003-18
Contact details of provider: Postal: Postbus 98, 1000 AB Amsterdam
Web page: http://www.dnb.nl/en/

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  1. Alessie, R.J.M. & Kapteyn, A. & Klijn, F.E., 1997. "Mandatory pensions and personal savings in The Netherlands," Discussion Paper 1997-39, Tilburg University, Center for Economic Research.
  2. Leora Friedberg & Anthony Webb, 2003. "Retirement and the Evolution of Pension Structure," NBER Working Papers 9999, National Bureau of Economic Research, Inc.
  3. repec:dgr:kubcen:200055 is not listed on IDEAS
  4. repec:dgr:kubcen:199739 is not listed on IDEAS
  5. Luigi Guiso & Tullio Jappelli, 2000. "Household Portfolios in Italy," CSEF Working Papers 43, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
  6. Peter Diamond, 2004. "Social Security," American Economic Review, American Economic Association, vol. 94(1), pages 1-24, March.
  7. Alessie, R.J.M. & Kapteyn, A. & Klijn, F.E., 1997. "Mandatory pensions and personal savings in The Netherlands," Other publications TiSEM dcff6ab7-1712-4830-bafe-3, Tilburg University, School of Economics and Management.
  8. repec:dgr:uvatin:20020073 is not listed on IDEAS
  9. repec:ner:tilbur:urn:nbn:nl:ui:12-74171 is not listed on IDEAS
  10. repec:ner:tilbur:urn:nbn:nl:ui:12-383719 is not listed on IDEAS
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