TV strikes again
Zembla, a current affairs TV programme in the Netherlands, lit a firestorm in the pensions industry last month after it argued that Dutch pension funds have underperformed consistently over the past two decades, missing out on more than €145bn in unrealised returns. The programme claimed that funds had generally invested too much in risky assets and that trustees lacked the necessary expertise to look after Dutch workers’ pension savings. It even went so far as to accuse the industry of “bad management”.
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