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Monday 25 September 2017

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Half of Dutch population does not save for retirement

Written by Ilonka Oudenampsen
17/07/17

More than half (52%) of Dutch people do not save for an additional
pension, according to research by asset manager BlackRock.

This number has increased since 2015, when 43% said they don’t save for
retirement. Only 17% of Dutch people are certain they are on track to reach their
desired retirement income, while 26% is certain they are not on track
and 29% doesn’t know.

Even among 55-64 year olds 27% have no idea how many retirement savings they have and 20% are certain their retirement income is insufficient. More women than men are unsure about their pension savings, respectively 35% versus 23%.

People who regularly check their pension arrangements have a much higher level of trust in reaching their desired retirement income. Of those building up retirement savings about a fifth uses an online tool to keep up to date on its progress.

More than three quarters of Dutch people who save for an additional pension does so via their employer. For 44% of respondents this is the preferred way of saving for retirement, while 14% would prefer to choose their own pension fund and 21% would like to save into an individual pension pot. Of those who save for an additional pension on top of the state pension, 58% has other arrangements in place such as investments or savings.



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