The Dutch pension system needs to be changed because if the economic crisis and aging of the population; the labor market faces problems too. How do we deal with the consequences of aging in society?
If the early retirement age is set at a too high level compared to the social norm in society, older workers leave the labor market through alternative exit routes such as private pensions, unemployment or disability benefits - reducing the effectiveness of labor market policies. This conclusion is drawn by Tilburg University researchers Daniela Skugor, Ruud Muffels and Ton Wilthagen in the Netspar Discussion Paper "Labour Law, Social Norms and the Early Retirement Decision. An Empirical Study".
Retirement does not only affect the way the retiree spends his or her time, but also the time allocation of his or her partner. "When a husband retires, the time spent by the couple on house work increases considerably. French data suggest, however, that this effect is scarcely perceptible when the wife retires”, says Arthur van Soest of Tilburg University.
The knowledge that we will be short of money in years to come is not enough to make us save more. Campaigns aimed at raising our ‘pension awareness’ by providing more information, therefore have no effect. This is the sobering message delivered by Professor Henriëtte Prast of Tilburg University in a DNB working paper.
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