Analysis

Not everyone loves the Pensions Agreement

By July 2011 (Magazine)

After much wrangling, heel-dragging and finger-pointing, the Dutch government and social partners have hammered out a Pensions Agreement. In mid-June, the social partners and the cabinet unveiled an agreement that aims to increase the official retirement age for the first pillar (AOW) to 66 in 2020 and to 67 in 2025. First pillar benefits will be raised an extra 0.6% annually, amounting to indexation in line with real earned wages, a major demand of umbrella union FNV. Early retirement will remain an option, but against a loss of 6.5% of the AOW for each year.

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IPE covers a good variety of very current and relevant topics. It is good to read the high-level, independent and objective perspectives from pension funds in other European countries; many of them are dealing with the same issues as we are, so it is interesting to learn from their experiences, especially when they are ahead of where we are on the curve.

Markus Schaen , Senior Fund Manager, MN,
The Netherlands
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