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Why the Netherlands is looking to Chile for a new pension system

AEGON Global Pensions | December 2013

WHY THE NETHERLANDS IS LOOKING TO CHILE FOR A NEW PENSION SYSTEM (WHEN THE UK IS LOOKING AT THE NETHERLANDS)

Erik Schouten, International Legal Tax Consultant, Aegon Adfis

In a recent paper on occupational pension reform in the UK, the Pensions Minister Steve Webb proposed that the UK look at introducing Dutch-style Collective Defined Contribution (CDC) plans.1 At the same time, in the Netherlands a cross-party group of young politicians - backed by several prominent Dutch economists – is calling for the Netherlands to move away completely from its present collective occupational pension system to a personal Defined Contribution pension system, similar to the Chilean pension system. Why would young Dutch politicians be looking to terminate the renowned Dutch collective pension system and what does the Chilean system have to offer?2

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Pension could be cheaper and simpler

Reflex company interview | December 2012

What do you consider the main problem with the current pension system?

“The current pension system is too expensive and too complex. That is why more and more companies and employees want to take pension matters into their own hands, instead of being bound to one insurance company or pension fund.

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Three reasons for a Chilean pension

Debate on 2 | January 2012

There is a significant change that you are building up a pension with a pension fund, via your employer. Obligatory. You have no choice. Do you feel that your pension fund realized poor return on your pension investment? Do you feel that you are not receiving any service or that the costs are too high? Unfortunately, the obligatory nature of this system, prevents you from leaving. That is, unless you find another job in different industry. Only to find out that, once again, your new employer requires you to place your pension funds under the management of another pension fund. It is about time to leave this paternalistic system, which fit perfectly with the labor relations from the fifties and sixties, behind us.

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