Communication and fiduciary duty
Financial planning for retirement generally receives less attention from individuals than might be considered wise. A large gap also exists between the knowledge and expertise of the providers of pension products and their clients. For the areas where a “fiduciary duty” already exists as a legal obligation, Netspar has examined what a “desirable” variant of this duty might be.
The objective of the fiduciary duty should be to allow individuals to make decisions in their own best interests and, in any event, help them avoid poor decisions. The most important dynamics in implementing this fiduciary duty are the provision of information and communication with the individual, along with the design of the decision-making process.
There is and has done the necessary research on fiduciary duty and (financial ) communication and literacy.
- Abstract Netspar Brief 5: Pension Freedom of Choice, Harry van Dalen and Kène Henkens
- Pension helpdesk calls: A repair mechanism in the client communication of financial institutions, Nell, Louise, Leo Lentz, Henk Pander Maat and Tom Koole, Studies in Communication Science, 15(1), 103-110, 2015
- Zorgplicht voor pensioenproducten, Arjanneke Sandtke, Arthur van Soest, Bas Werker, Benedict Dellaert, Marc Turlings, Mike Rijff, Oskar Poiesz, Sacha van Hoogdalem, Sandra Schellekens, Stefan Lundbergh, Yvonne van Straalen
- Verplichte communicatie en zorgplichten: De wisselwerking tussen werkgever en de pensioenpraktijk, Rijnhout, Rianka, Ivo Giesen, Louise Nell and Leo Lentz, Weekblad voor Privaatrecht, Notariaat en Registratie, 145(7025), 626-637
Current Research projects
- Engaging pension plan participants: How emotions, peer effects, and life events influence the effectiveness of pension communication, Elisabeth Brüggen and Thomas Post (UM) three-year theme project, start January 2016
- Preparing for retirement: tailoring, literacy and effective pension communication,
Leo Lentz (UU) and Adriaan Kalwij (UU), three-year theme project, start September 2015
- Interactive Pension Communication and Decision Making, Benedict Dellaert and Bas Donkers (EUR), three-year theme project, start January 2013
- October 10, 2016 in Zeist
Taskforce ´Hoe kunnen individuele pensioenkeuzes worden verbeterd?´