Dutch public have less confidence in pensions than banks and insurers – DNB

The Dutch public have less confidence in pensions being able to meet their commitments than they do of insurers and banks entrusted with their money.

According to DNB’s consumer confidence survey of 2,5000 households in March this year, around 50 per cent of the public have confidence in pension funds, compared to approximately 70 per cent for banks and insurance firms. Despite confidence in pension funds being lower than banks and insurers, DNB said that the figure of 50 per cent had increased from the previous year.

Overall, confidence in financial institutions has not suffered from the coronavirus crisis in the past year. When asked, the vast majority of households indicate that their confidence in financial institutions has not been affected by the pandemic. Around 80 per cent of the respondents said their confidence in banks, insurance companies and pension funds has not changed due to the pandemic.

However, trust in other important social and economic players turned out not to be immune to the crisis. For example, confidence in national politics and large technology companies declined. The Dutch public is particularly concerned about the impact of the pandemic on the economy.

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