Dutch willing to work longer for pension

27th January 2005, Comments 0 comments

27 January 2005, AMSTERDAM — Dutch employees are prepared to work until they are 66, a year after the official pension age, according to a study by Dutch insurer Axa.

27 January 2005

AMSTERDAM — Dutch employees are prepared to work until they are 66, a year after the official pension age, according to a study by Dutch insurer Axa.

Last year the Dutch coalition government provoked a storm of protest when it suggested raising the age at which a person can receive the State pension (known as the Dutch abbreviation AOW) to 67.

The survey was conducted in 15 major industrialised countries, newspaper De Telegraaf reported on Thursday. Only in Britain and Canada were people willing to work longer than in the Netherlands.

People in Italy, the US and Portugal were the least enthusiast about working longer before retiring. Respondents from these countries cited 62 as the preferred retirement age.

"If it has to be, it has to be. People are willing to work longer if necessary. Dutch workers are very conscious that such a move is economically necessary," an Axa spokesperson told the newspaper.

Axa argues the advantage of people working longer would be that premium payments for the AOW state pension would fall, as would the demand on pension funds. This would lead to an increase in purchasing power, the insurer said.

The survey found that Dutch people would rather retire at 60, if it was not economically necessary to keep working longer. Dutch pensioners receive on average EUR 1,734 a month, with EUR 1,509 going on household expenditure. Only in Canada are pension incomes higher.

[Copyright Novum Nieuws 2005]

Subject: Dutch news, Dutch pensions

0 Comments To This Article