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Private Retirement Provision

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Title Private Retirement Provision
Period 01 / 2006 - 01 / 2009
Status Completed
URL http://www.netspar.nl/research/themes/2006/private/more
Research number OND1324718
Data Supplier Website Netspar

Abstract

The provision of retirement income has long been dominated by mandatory arrangements with little room for individual choice. However, individual choice is becoming increasingly important within collective defined-benefit arrangements. Moreover, individual schemes with more scope for individual discretion are sometimes proposed, including private retirement and life-cycle accounts based on defined contributions. In any case, in addition to collective pension rights, households build up private savings and investments in financial assets, housing and human capital. These developments place more responsibility on individuals to make informed decisions about retirement savings and investments. People must be able to estimate not only how much wealth they will need to accumulate by the time they retire, but also what risks are involved. To execute their plans, they will invest in mutual funds, or use the services of intermediaries, such as insurance companies and pension funds.

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Project leader Prof.dr. P.C. Schotman

Classification

A53000 Banking and insurance business
A81000 Labour
D42200 Social and public administration
D43000 Economics
D68000 Social security studies

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