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April 13, 2021

Optimizing the life cycle path of pension premium payments and the pension ambition in the Netherlands

Publication

Pension premium rates and pension benefits are independent of age or family situation in the second pillar of the Dutch pension system. In a life cycle model calibrated on Dutch data we investigate the optimal arrangement of pension premiums and benefits taking into consideration two factors: the fact that incomes generally rise with age and the presence of children in the early years of the household.

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August 27, 2020

Lage rente en de toekomst van pensioenen

Publication (in Dutch only)

Lage rente zorgt ook in het nieuwe pensioencontract voor lastige keuzes.

August 27, 2020

The impact of a lower return on wealth on optimal wealth accumulation

Publication

The return on safe assets has been declining over the past 40 years lowering the return on people’s wealth. Should people save more for retirement to compensate for the lower return on wealth? What implications will this have for individual and aggregate consumption?

February 13, 2020

Are the savings of Dutch households optimal?

Publication

Dutch households (implicitly) have an unusual mix of assets. Particularly their high level of mortgage debts and pension entitlements stand out in an international context. In this paper we examine how Dutch household wealth compares to the theoretically optimum. In general we find that Dutch households do not  save too much. At retirement age, the median optimum assets are roughly the same as the median observed net assets of Dutch households. However  the differences between households can be substantial. in particular have more assets than is optimal according to the model. Their observed wealth remains constant or sometimes even increases after retirement.

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