NETHERLANDS - Pension planning will become a major issue for Dutch citizens as employees are increasingly prepared to work until 65, according to one expert.
The Dutch Ministry of Social Affairs announced earlier this week that 26% of workers were now willing to continue until 65, which was up 5% compared to 2005.
The national survey of labour conditions found workers aged between 25 and 54 particularly favoured this option.
Analysing the survey’s implications for pensions, Rajish Sagoenie, executive director of actuarial resources at Aon Consulting, said: “I think more people must be thinking about pensions and people must think about their whole financial planning.”
Sagoenie said the results coincided with the change in Dutch pension law in January 2006 which obliged every pension scheme to have a pension date as of 65 years.
He said: “There is still the possibility to retire earlier, but on your own finance. If you retire early you could lose around one-quarter or one-fifth of your total pension in a DB system.”
The government study was conducted among 24,000 workers at the end of 2006.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers