NETHERLANDS - Dutch consultant Bureau Bosch has urged the Dutch central bank not to take too rigid a line on its new Financial Assessment Framework.
Speaking at F Asset Management’s annual client conference, Frits Bosch, consultant at Bureau Bosch, said: “I note that pension funds are increasingly dismayed at the new framework’s short-term implications for their investment policies – and rightly so.
“Shock-proofing the pension system shouldn’t mean that pension funds can no longer provide inflation-linked pensions if they so desire.”
Bosch referred to comments made by Wouter Bos in London this month, in which the Dutch Labour leader took a stand against the trade unions’ defence of early retirement programmes. Former Labour state secretary Rick van der Ploeg had also turned against the trade unions, he added.
“We’re looking at a watershed here,” Bosch said. “The Dutch Labour party is distancing itself from unions and babyboomers ahead of a new term in office.”
Henk Breukink, head of F Netherlands, commented: “Pension reform is a critical issue for the Netherlands and it is vital that all the affected parties, including pension funds, regulators, asset managers, consultants, actuaries and trade unions work together to ensure optimal mutual understanding and policies based on a longer term perspective.”
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