NETHERLANDS - The Netherlands' three Dutch pension associations - the OPF, VB and UvB - have outlined their ideas for the sector ahead of today's parliamentary elections.
With the poll possibly having an immense impact on the outlook for the sector in the next four years, the organizations have decided go public with their views.
Benne van Popta, chairman of the VB and his counterparts Loek Sibbing at the OPF and Bert van Kuyck of the UvB, argue that a priority for a new government will be to make the second pillar sustainable.
Two other issues should be to make a choice for self-regulation and deregulation of the sector, with a feasible time frame for implementation.
Solidarity and collectivity are the two pillars the second pension pillar is based on, with support of a compulsory participation agreement. According to VB and OPF, there are however threats emerging, especially if plans to implement part of the capping of tax facilitation for higher salary levels will become a fact. Compulsory outsourcing of parts of the management issues also is seen as a threat to the position of the pension fund board.
VB, OPF and UvB also stated that they urge the Dutch government to prevent the implementation of EU directives which could interfere with the Dutch situation.
The two pension organizations stated that self-regulation and deregulation should become more a fact of life than the current trend of government interference, rules and regulations. The last couple of years, self-regulation has become a normal fact of life, as the pension sector has shown. Pension Fund Governance and the participation of subscribers have become implemented. The two organizations urge the new government to limit its interference in the pension sector. New rules, regulations and tax systems only will increase cost factors, resulting in lower overall yields in the end.