Dutch pension fund ABP is to arrange a follow up of its test whereby 21,000 members gained insight into their personal pension pot.

Such a pot will be given to all active members, excluding military personnel, later this year.

The pension fund wants to take away any concerns of members who feel that there will be no money left in the pension fund when they retire. It will be possible to see at a glance what one will receive per month in retirement.

The personal pension pot is a visualisation that allows people to easily see how much pension savings they have accrued. It gives members insight into their own contributions, the premium their employer pays, and the investment results.

ABP launched the pension pot last year and according to the pension fund the first test was promising. In the end, 14 per cent of the members who had been approached during the test period looked at their personal pension pot. ABP had expected a response of 10 per cent.

During the remained of the year ABP wants to open up the personal pension pot to all active members, excluding military personnel, which will be around 900,000 members. The pension fund purposefully uses a cautious calculation with regards to the personal pension pots, because it does not want to create too high expectations.

Share Story: