Research area: meso, finance
Department: Pension Fund Consultancy (PFC)
Supervisor: Jeroen van der Bosch and drs. Nicole van der Zee
Description: One of the reasons of existence of pension funds is that they accommodate risk sharing between generations. Because the Dutch (second pillar) pension system is a system in which participants pay now to save for benefit payments in the future, by means of additional contributions, younger generations can help older generations. The other way around, older generations can help younger generations by giving up parts of the indexation compensation of their pension rights. In the past years, research effort has been put into quantifying the “value” of this type of solidarity. Furthermore, there are a number of developments in our society that put pressure on this type of solidarity. One of these is the rise of (collective) defined contribution schemes which transfer all the risk (but also the returns) onto the individuals. The objective of this project is to build on the research done on the value of the intergenerational solidarity and to place this in the light of recent social developments.
Background information:
Boender, C.G.E., S. van Hoogdalem, R.M.A. Jansweijer en E. van Lochem (2000), “Intergenerationele Solidariteit en Individualiteit in de Tweede Pensioenpijler: Een Scenario-Analyse”, Wetenschappelijke Raad voor het Regeringsbeleid, Den Haag, rapport 114.
Boender, C.G.E., A.L. Bovenberg, S. van Hoogdalem and T.E. Nijman (2007), “Optimal risk-sharing in private and collective pension contracts”, in Costs and Benefits of Collective Pension Systems, edited by O.W. Steenbeek and S.G. van der Lecq, 2007.