Current facets (Pre-Master)
Current pension system is way too complicated
In an article on the website of the Dutch newspaper Algemeen Dagblad (8 May 2018) Bas Jacobs, Professor of Public Finance and Economic Policy at Erasmus School of Economics, gives his opinion about the fact that after almost ten years of talking about modernizing our pension system, employers and trade unions haven't made any progress.
The Dutch pension system is internationally recognized as one of the best, if not the best pension system in the world. Nowhere do older people have such a good income and there is as little poverty among the elderly as in the Netherlands. Nevertheless confidence in the system has fallen sharply. Bas Jacobs states: ‘The current pension contract is incomplete. Nobody knows what he pays and what he gets. Everyone thinks he pays too much and gets too little. That affects the confidence in the system.’