If the European Union falls apart, the Netherlands would face severe consequences, according to Rabobank. The Dutch economy will shrink by 10 to 15 percent, unemployment will double and welfare will remain structurally lower than when the Netherlands was part of the internal market. Should the EU stay together, but the Netherlands decides to step out, the consequences would be even more disastrous, the bank predicts, RTL Nieuws reports.
The financial position of the five largest pension funds hardly changed in the third quarter, meaning that four out of the five still have a funding shortfall. This final quarter of 2016 will reveal whether the funds will have to lower pensions next year
The life expectancy for the average Dutch is increasing, according to actuarial society AG. The life expectancy of a girl born in 2016 is no 93 years, and that of a boy is 90.1 years. In 2014 it was 92.5 years for a girl born that year and the same 90.1 years for a boy
The D66 wants to change the pension system so that individual workers can chose their pension plans for themselves, instead of the current collective schemes
Some 7 million workers and pensioners may well see their pensions reduced next year. The financial situation of the large Dutch pension funds dropped to critical last month, according to figures released by Aon Hewitt on Tuesday
Despite a few difficult years during and following the financial crisis, the Netherlands' national wealth continued to grow and is currently standing at a staggering 3.7 trillion euros, according to figures Statistics Netherlands released on Thursday. That is 3.7 with eleven zeros.
On Tuesday De Nederlandsche Bank announced that the way in which the interest rate for pension funds is calculated will be adjusted. Pension funds are concerned that this will leave them worse off financially and lead to premium increases for their members
Two-thirds of Dutch pension funds, including 4 of the 5 largest funds, are in so much financial trouble that they will have to submit a recovery plan to De Nederlandsche Bank. This involves 160 of the approximately 250 pension funds in the Netherlands. For many of these funds, this will be the second recovery plan they submit.
The financial position of major pension funds deteriorated over the first quarter. Low interest rates are resulting in lower returns on investments made by the funds, reports the newswire ANP.
Pensions of 2.8 million people held by ABP will not be increased in 2016. The chances of any increase in the first several years following are very limited, the new chairman of ABP, Corien Wortmann-Kool, told the newspaper NRC.
Dutch pension funds, insurance companies and banks will invest an additional 2 billion euros to provide loans for Dutch small- and medium-sized enterprises (SME) in the next three years, the government announced Wednesday. For this purpose, the Netherlands Investment Institution (NLII) is establishing two investment funds Wednesday.
Freelance workers in The Netherlands will, from next year onwards, be able to choose to put money into a collective pension fund. With this fund, they will also, just like steady employees, be able to save money tax free for their pensions, De Volkskrant reports.
The largest Dutch pension administrator, APG, is not going to follow the lead of foreign administrators investing in durable energy, such as wind farms, and is choosing to put money into fossil fuels instead.
The Cabinet has to make sure that there is more investment by, for example, pension funds to creat jobs. Diederik Samsom, leader of the PvdA, told the BNR on Tuesday that this is not happening right now.
On Thursday the Dutch pension funds made the numbers of the third quarter public. In general the degree of coverage increased and there is now some hope that pensions will not be cut down next year.
According to the law, the pension funds must have a degree of coverage higher than 105 percent. This is to assure the retired people that their pension can be paid and that they can live on the same standard as usual. Is the degree of coverage lower than the said level than the pension funds can announce that they will pay less in the next year.
The government has almost an agreement with the pension funds on investments in the Dutch economy. Most probably this agreement will lead to the formation of a national mortgage bank, where pension funds can take over mortgages of Dutch banks.
Jeroen Dijsselbloem, Minister of Finance, confirmed that talks are now being finalized "at breakneck speed" Tuesday the parties were together for the last meeting at the Ministry of Economic Affairs.
The financial position of the major pension funds in the Netherlands has deteriorated over the past 3 months. Millions of people need to be aware that their pensions might be (again) reduced next year.
The funds were affected by the developments in the financial markets.