Retirement wishes young and old vary widely
Members of the ABP pension fund have completely different preferences about the amount of the premium they want to contribute each month and the amount they want to receive when they retire. Also, few ABP participants correctly estimate how high their pension will be.
Picture: Type tank
This is apparent from a report by Apg commissioned by the social partners and ABP, the largest pension fund in the Netherlands to which all educational staff are affiliated, in addition to civil servants, police and military personnel.
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division
The research shows mainly divisions. Of the young people up to the age of 37, 60 percent of the ABP wants a lower contribution and a lower pension benefit. They need the highest possible net wage. 'I can't do without the money now', is one of the reactions. Or: 'After your retirement you will have fewer costs than now.' For older participants, from the age of 58, the percentage is a lot lower at 42. Older participants want a higher premium and a higher benefit when they retire. They write: 'This offers security of a good income.'
The research mainly shows divisiveness
A lot more elderly people, 66 percent of them in total, want to pay a higher premium if this increases the chance of receiving a higher pension. Just under half (49 percent) indicate this among young people.
ignorant
It also appears that many workers and retirees at the ABP do not know how high the premium actually is. A third have no idea, 55 percent say they know 'a little'. The elderly and people with higher incomes are especially aware of this. Half of the participants know that a higher contribution each month means that you will receive a higher pension benefit later on. 15 percent do not know this and 32 percent 'a little'.
New policy
Due to the new pension system - the Pension Act will be discussed in the House of Representatives this week - all pension funds must reconsider their pension goals, ie the amount that pensioners receive each month, the level of the premium and estimate the chances that they will achieve their goals.
In the new system, the result of investments is more important, while in the current pension system the level of the pension depends on the level of the premium and the return. The amount of return depends on the risk you are willing to take. The board of ABP and the unions and employers' organizations therefore want to know what preferences their participants have so that they can adjust their new policy accordingly.
We want a well-filled solidarity pot to prevent 'unlucky and lucky generations'
AObpension advisor Roelf van der Ploeg: “Pension is always a triangle of premium, the risk you run and the outcome. The more risk, the greater the chance of a higher benefit. You can also play it safe and only invest in government bonds, but then the payout will be less.”
On behalf of the AOb and FNV, Van der Ploeg thinks along with the ABP about choices that must be made. “We want there to be a well-filled solidarity pot so that 'unlucky and lucky generations' are prevented,” says the pension adviser. “We recognize that there will be more swings in pension levels in the new system, but it should not tear generations apart.”
