Pension information, architecture and services

On Wednesday February 14, Netspar will host a taskforce at Utrecht University regarding the above subject. More information on the program and paper can be found after this.

Towards an architecture for personal financial planning using inter-organizational information exchange
Nitesh Bharosa, Marijn Janssen, Ralf van Oosterhout


Research predicts that around 20-30% of the Dutch population will experience a financial shortfall on the retirement date. Yet, a substantial part of the population saves more than is necessary for a comfortable retirement. A solution to a part of this problem is easy and affordable personal financial planning: consumers can access an integral view of their financial situation. This provides a better basis for personal financial planning, with or without (digital) advice. However, the personal data required for this is fragmented over a large number of heterogeneous actors and systems in various sectors (including mortgages, banking, insurers, government, service providers).

The central research question is formulated as: what kind of architecture is necessary for inter-organizational information exchange enabling personal financial planning?

The purpose of this paper is to describe an architecture that enables personal financial planning by consumers. An architecture is defined as an design instrument that describes the coherence of objects (such as actors, digital identities, data, processes, infrastructure and tools / personal data spaces for consumers) that are necessary for personal financial planning.

The research will be carried out by TU Delft in collaboration with Thauris and Privacy Company.

Naar een architectuur voor betere informatieposities en dienstverlenging in het pensioendomein
Milena Dinkova, Sanne Elling, Adriaan Kalwij en Leo Lentz

Abstract (in English):

Many people are not motivated to process pension information. A main reason for this lack of motivation is that they do not feel the urgency to delve into their pension situation. This attitude, in turn, may prevent them from taking informed pension decisions. We have assessed whether offering tailored pension information based on age and gender is a way to get people interested in pension information. We have conducted a field experiment in which we sent email invitations to all employees of an insurance company to use an online tool, referred to as the Pensioncheck, to learn more about their personal pension situation. We randomly assigned half of the employees to receive tailored invitations and the other half to receive non-tailored invitations. This experimental set-up enabled us to answer the following research question: Does tailoring induce participants to perform the Pensioncheck? The experiment provided data on (1) whether individuals clicked through from the invitation to the Pensioncheck website, (2) whether they logged in on the Pensioncheck website and (3) the effort they exerted while performing the Pensioncheck as measured by the time they took to complete it. We found evidence for a negative effect of tailoring on the predicted probabilities to click and to login. Regarding the time spent in the Pensioncheck, we have found that respondents, who received a tailored invitation, have spent more time on the Pensioncheck than respondents who received a generic invitation.

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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