Download or read book Dutch Pension Funds written by Rene Maatman and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Because of their size, Dutch pension funds are of great importance to the international financial markets. The total value of Dutch pension assets is close to 500 bln (2004). Dutch pension funds have recently been the focus of public attention. The ageing of the population and volatile investment results (in terms of surpluses and shortfalls) have contributed to this. Maatman explains the legal relationships between the pension fund and its economic stakeholders. He describes the organisational structures through which the pension contract is implemented and makes clear what the stakeholders may expect from the pension fund as an asset manager. He focuses in particular on the pension fund as a fiduciary, a concept which has its origin in Roman law and which is particularly developed in Anglo-American trust law. It is also recognised in Dutch law. Maatman demonstrates great knowledge of the pension fund industry, and discusses many key issues very authoritatively. His work is of great importance to legal scholars and practitioners, both in the Netherlands and abroad.

Download or read book Self Employment and Support for the Dutch Pension Reform written by Ms.Izabela Karpowicz and published by International Monetary Fund. This book was released on 2019-03-19 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Netherlands’ pension system is characterized by high participation rates, adequate retirement income, strong capitalization and sustainability. Pressure points are arising, however, due to population aging and untransparent intergenerational transfers inherent in the system. Moreover, the Dutch pension system needs to adapt to the changing labor market landscape with an increasing share of workers in self-employment not covered by any pension arrangement. The government has proposed replacing collective defined-benefits schemes with personal accounts, and abolishing uniform premia and constant accrual rates. The micro-data analysis shows that allowing greater risk-taking and freedom of choice in managing pension savings could crowd self-employed into pension schemes.

Download or read book Reform Options for Mature Defined Benefit Pension Plans The Case of the Netherlands written by Mr.Marc Gerard and published by International Monetary Fund. This book was released on 2019-01-25 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Netherlands has been operating fully funded, defined benefit second pillar pension schemes that have consistently ranked high worldwide for delivering high replacement rates while featuring strong solidarity among members. Yet the long-term sustainability of the Dutch pension funds has been undermined in recent years by protracted low interest rates and unfavorable demographic developments, exacerbating controversies over intergenerational transfer mechanisms within the plans. This has prompted a national debate over ways to move toward more individualization while preserving financial security at retirement for all. This paper draws on this experience, illustrated by stress testing simulations and assessed vis-à-vis solutions implemented in peer countries, to discuss the main policy trade-offs associated with the reform of mature pension systems in advanced economies.

Download or read book Dutch Pension Funds written by R. H. Maatman and published by . This book was released on 2004 with total page 279 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Pension Funds in the Netherlands written by Angelien A. G. Z. Kemna and published by . This book was released on 2015 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Dutch pension fund system, considered among the best in the world, successfully combines a first-pillar flat-rate pension for all residents with a labor-related second pillar and voluntary savings accounts as the third pillar. This paper describes the main institutional characteristics of the Dutch pension fund system and its evolution over the past few decades. The Dutch way is put in perspective by highlighting the differences between Dutch pension fund governance and that of the United Kingdom and United States, with an emphasis on the Dutch adherence to collective risk-sharing. Pension plan redesign, however, is inevitable because the increasing maturity of pension funds in a more volatile economy makes the defined benefit plan structure unsustainable. Pension funds will link benefits increasingly to financial market performance.

Download or read book Costs and Benefits of Collective Pension Systems written by Onno W. Steenbeek and published by Springer Science & Business Media. This book was released on 2007-10-11 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recommended by Nobel Laureate Robert C. Merton, this book offers the world a first-hand opportunity to learn why the Dutch pension system is so often praised and how it operates. The book also discusses aspects of the system that are less favorable, such as implicit value transfers from younger to older generations that limit mobility of labor. Throughout the discussions, the authors provide quantitative evidence to support their assertions.

Download or read book Financial Behaviour of Dutch Pension Funds written by Jan Kakes and published by . This book was released on 2006 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Future of Multi Pillar Pensions written by Lans Bovenberg and published by Cambridge University Press. This book was released on 2012-06-21 with total page 435 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pension systems are under serious pressure worldwide. This pressure stems not only from the well-known trend of population aging, but also from those of increasing heterogeneity of the population and increasing labour mobility. The current economic crisis has aggravated these problems, thereby exposing the vulnerability of many pension schemes to macroeconomic shocks. This book reconsiders the multi-pillar pension scheme against the background of these pressures. It adopts an integral perspective and asks how the pension system as a whole contributes to the three basic functions of pension schemes: facilitating life-cycle financial planning, insuring idiosyncratic risks and sharing macroeconomic risks across generations. It focuses on the optimal balance between the various pension pillars and on the optimal design of each of the schemes. It sketches a number of economic trade-offs, showing that countries may opt for different pension schemes depending on how they react to these trade-offs.

Download or read book Portfolio Management of Dutch Pension Funds written by P. D. van Loo and published by . This book was released on 1988 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Diversity of Dutch Pension Fund Boards written by Laurens Swinkels and published by . This book was released on 2016 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this article, we investigate the level of diversity of the largest 100 pension funds in the Netherlands. Our results indicate that pension fund boards mainly consist of males close to retirement. We compare pension fund board diversity in the Netherlands with diversity in (inter)national corporations and find similar levels of diversity. This high level of similarity indicates that the large body of research on corporate board diversity can potentially be useful when improving pension fund board diversity, in the Netherlands and potentially elsewhere.

Download or read book Pension Fund Economics and Finance written by Jacob Bikker and published by Routledge. This book was released on 2017-11-22 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pension fund benefits are crucial for pensioners’ welfare and pension fund savings have accumulated to huge amounts, covering a major part of world-wide institutional investments. However, the literature on pension fund economics and finance is rather limited, caused, in part, to limited data availability. This book contributes to this literature and focuses on three important areas. The first is pension fund (in)efficiency, which has a huge impact on final benefits, particularly when annual spoilage accumulates over a lifetime. Scale economies, pension plans complexity and alternative pension saving plans are important issues. The second area is investment behavior and risk-taking. A key question refers to the allocation of investments over high risk/high return and relatively safe assets. Bikker investigates whether pension funds follow the life-cycle hypothesis: more risk and return for pension funds with young participants. Many pension funds are rather limited in size, which may raise the question how financially sophisticated the pension fund decision makers are: rather professionals or closer to unskilled private persons? The third field concerns two regulation issues. How do pension fund respond to shocks such as unexpected investment returns or changes in life expectancy? What are the welfare implications to the beneficiary for different methods of securing pension funding: solvency requirements, a pension guarantee fund, or sponsor support? This groundbreaking book will challenge the way pension fund economics is thought about and practiced.

Download or read book Differentiation Indexation in Dutch Pension Funds written by Roel Maria Wilhelmus Jozef Beetsma and published by . This book was released on 2010 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Recent Evolution of Pension Funds in the Netherlands written by Eduard H.M. Ponds and published by . This book was released on 2007 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to the classification in official statistics, Dutch pension plans have mainly preserved their DB character in recent years. The dominant reaction of pension funds to the fall in funding ratios at the beginning of this century has been a switch from final-pay schemes to average-wage schemes. This contrasts sharply with the experience in the United States and the United Kingdom, where the fall in pension funding ratios has accelerated the switch from DB to DC schemes. This paper scrutinizes the recent evolution of Dutch pension plans: how does the evolution of Dutch pension funds diverge from that of Anglo-Saxon pension funds, and how can we explain this divergence? Using an ALM framework, we argue that the current average-wage pension plans may be better viewed as hybrid DB-DC schemes, as indexation of all liabilities has been made solvency-contingent. Because these hybrid plans make use of two steering mechanisms to control solvency risk, Dutch pension funds display a high effectiveness in minimizing the risk of under-funding. The current hybrid schemes reflect a compromise between the various stakeholders. We examine the institutional basis for this compromise, and contrast this with the situation in Anglo-Saxon pension funds, where primarily employers are responsible for absorbing funding deficits, which gives them in turn more grip on pension plan design issues. In addition, we look at the role of unions, the strong preferences within the Dutch society for collective risk-sharing, and the underlying high level of social trust, as explanations for the divergence with the experience in the US and the UK.For the longer term, we foresee that Dutch pension plans will shift further towards stand-alone multimember plans, often being called collective DC. This will be accompanied by more differentiation in risk exposure between younger and older members. Collective risk-sharing will thus remain an important element in Dutch pension funds. In this sense, the evolution of Dutch pension schemes diverges from the developments of Anglo-Saxon pension funds, where risks are shifted more to the individual. Finally, we argue that collective risk-sharing has some important advantages over individual risk-sharing.

Download or read book Pension Plans and the Retirement Replacement Rates in the Netherlands written by and published by . This book was released on 2009 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Differentating Indexation in Dutch Pension Funds written by Roel M. W. J. Beetsma and published by . This book was released on 2010 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Pension Security in the 21st Century written by Gordon L. Clark and published by Oxford University Press, USA. This book was released on 2003-11-20 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: Focusing on how Europe and the USA are dealing with the demographic, financial and political pressures on pension security, this book seeks to explore the links between two spheres often considered separately; i.e. old age security and global finance.

Download or read book Kingdom of the Netherlands Netherlands written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2016-02-11 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper aims to contribute to the discussion by sketching ways in which the taxation equity-efficiency frontier could be shifted outward in the Netherlands. In a nutshell, we argue that significant efficiency gains could be achieved by shifting the tax burden away from labor, and toward consumption and capital—especially housing. The detrimental impact of the tax-benefit system on labor supply—in particular by mothers—and the insufficient and distortionary use of the value-added tax (VAT) as a revenue-collection mechanism is also highlighted in the paper. This paper also reviews the main features of the Dutch tax system and sketches the contours of a hypothetical tax reform.