Economic and Psychological Aspects of Pension Choices and Pension Communication

On Tuesday 5 December, Netspar will host a taskforce at Utrecht University regarding the above subjects. More information on the program and paper can be found after this. The Chairman will be Arthur van Soest.

Designing freedom of choice and tailor-made solutions within pension schemes
Jim Been (LU), Roel Mehlkopf (DNB), Marike Knoef (LU/Netspar) en Casper van Ewijk (UvA/Netspar)
Abstract
In this study, we continue to build on Van Ewijk et al (2017) and Been et al (2015). We examine in our representative sample of the Dutch population, per household, the costs and benefits of more freedom of choice and less social protection. Using the life cycle theory we determine the benefits of more flexibility and the costs that can be caused by short-sightedness and wrong choices. We simulate how many households get into trouble with short-sightedness or wrong choices under various policy options. In this way we can examine what good limits are for social protection in the second pillar. We will distinguish different groups, such as homeowners and tenants, and groups with low and high income

Ten years Annual Pension Statement: A review of content, goals and effectiveness
Sanne Elling en Leo Lentz (Beide UU)
Abstract
Het Uniform Pensioenoverzicht (UPO) wordt sinds 2008 voorgeschreven als wettelijk verplicht document dat ieder jaar door pensioenorganisaties aan alle actieve deelnemers wordt verstrekt. Sinds de start in 2008 heeft het UPO verschillende veranderingen ondergaan. In dit paper analyseren we op welke manier het Uniform Pensioenoverzicht (UPO) zich ontwikkeld heeft qua inhoud en vormgeving. Leidraad bij de analyse zijn de doelen van het document en de mate waarin deze gerealiseerd worden. Ook evalueren we de effectiviteit van het UPO door te onderzoeken in hoeverre de informatie voor deelnemers vindbaar en begrijpelijk is. Natuurlijk blikken we niet alleen terug, maar ook vooruit: wat kunnen we leren van de afgelopen tien jaar en wat betekent dit voor de toekomst van het UPO?

Emotions in long term financial decision-making: Relevance and measurement
Thomas Post, Elisabeth Brüggen en Luuk Perik (MU)
Abstract
We study the role of emotions in long-term financial decision-making, specifically in the pension context. Typical characteristics of the pension context are that decisions taken today have consequences in the distant future and that the decision environment is complex. We argue that in this setting, reliance on emotional decision heuristics are of key importance but rarely studied. First, we provide a review of the emotions literature to set a framework for future studies in the pension context. For linking emotions to decisions we need to measure emotions appropriately. Therefore, second we describe and compare measurement techniques, each with their unique advantages and disadvantages

Locatie: Tilburg University Seminar Room K834 Warandelan 2 5037 AB Tilburg

Netspar, Network for Studies on Pensions, Aging and Retirement, is a thinktank and knowledge network. Netspar is dedicated to promoting a wider understanding of the economic and social implications of pensions, aging and retirement in the Netherlands and Europe.

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