Dutch insurers claim 18% of second pillar
NETHERLANDS - Life insurers built up an 18% share of the second pillar pensions market by 2005, the Dutch Centre for Insurance Statistics, or CVS, has claimed.
According to the CVS, the accounting institute of the Dutch Association of Insurers (VvV), its data shows the insurers' share has remained stable compared to the previous year.
The CVS found percentage of active participants in insurers' pension schemes is - with 18% - exactly the same as the percentage of deferred participants while the share of pensioners in insurers' second pillar schemes is 16%.
In terms of contributions volume, insurers claim they received 20% pf second pillar market contribution, down 1% compared to 2004. Participants paid insurers €6.3bn in pension contributions, while pension funds received €25.2bn in premiums in 2005.
The CVS has based its conclusions on data from the pensions regulator De Nederlandsche Bank, which has not yet produced the corresponding figures for 2006, the institute indicated.
Insurers mainly provide second pillar plans to companies which have contracted-out their pension schemes.