The move towards riskier pension products in the world’s best pension systems

The Danish and Dutch pension systems are often referred to as “among the best in the world”. In this paper we compare pension systems and pension products in Denmark and the Netherlands. We focus on the shifts that are taking place in both countries, from pension products with relatively low levels of risk for pension scheme members to pension products with more risk but also higher expected return. We also present the results of a case study where customers were given the chance to shift from a low-risk to a higher-risk product. We end out drawing lessons that are relevant for discussions in many countries.