Frontiers in pension finance and reform: institutional innovation in the Netherlands
Stand-alone collective pension schemes are an attractive third way between the extensive public pay-as-you-go schemes of continental Europe and the individual pension plans that are increasingly replacing defined-benefit plans in the Anglo-Saxoncountries. If a number of further reforms are implemented, Dutch pension funds can evolve into stand-alone pension schemes that better fit the needs of employees in a dynamic, innovative economy.