Aegon Nederland has called for the fast flexibilisation of the Dutch pension system, so that employees can better plan their financial future.

Research by the Aegon Center for Longevity and Retirement among 86,000 employees from 15 countries worldwide, including the Netherlands, found that one in three employees expects to immediately stop working once they reach retirement age. Slightly more than half (57 per cent) would like to keep working in some form after reaching the state pension age.

One in ten says that reaching retirement age will not affect how much they work. Almost a third (31 per cent) will first work part-time before retiring fully, while 16 per cent also expects to work fewer hours.

For 73 per cent of respondents, the salary and the level of savings are the main reason to continue working. More than half (56 per cent) would like to stay physically and mentally fit, and for 38 per cent work satisfaction is the main reason to postpone retirement.

The research also shows that across the globe people expect that 46 per cent of their retirement income will come from the government, 24 per cent from the employer, and 30% from the employee, through savings or investments. Around 14 per cent has written down how they are preparing financially for their retirement.

Maarten Edixhoven, CEO of Aegon Nederland, says the research shows that the pension system needs to be made more flexible soon. “Policy makers, unions, employers and individuals need to work on making flexible retirement an immediate reality. That way they need to help employees with their financial planning, with developing healthy habits, and with maintaining a work-life balance.”

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