Explicability of the new pension system

“The importance of communication for an understandable and acceptable new pension system”

In the new Dutch pension system, participants have more choices but also more uncertainty. Therefore, communication should focus on enabling individuals to understand the system so that they can make appropriate pension choices. But communication also influence acceptance: do people experience the new system and its outcomes as justified? Finally, communication should manage expectations to avoid disappointment in the future.

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Key Takeaways for the Industry

  • Do not make golden promises about the new system, as these will lead to unrealistic expectations and therefore disappointment in the new system.
  • Prepare for increased communication with the public, differentiate communication processes according to client needs, and provide staff with appropriate training.
  • Produce a set of tools to test explicable pension communication. For example, the pension sector and government could realise this in consultation with the Netherlands Authority for the Financial Markets (AFM).


Want to know more?

Read the paper by Leo Lentz and hans Hoeken (Utrecht University) ‘De uitlegbaarheid van het nieuwe pensioenstelsel’ (in Dutch).


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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