Since the creation of the Old Age Pension scheme (Algemene Ouderdomswet, henceforth; AOW) in 1957 some important changes in its regulation have taken place. The purpose of this study is to analyse the redistribution of income for different individuals in the AOW taking into account these changes in regulation and different groups of individuals according to their gender, civil status and income.This comparison is made by using the Generational Accounts approach, initially presented by Auerbach (1991), in which the Net Present Value of the pension benefits received by every individual from the system is subtracted from the Net Present Value of the contributions paid to the system.In this study the database IPO, Documentatierapport Inkomenspanelonderzoek from CBS, Statistics Netherlands, has been used for some specific years after 1977. For the data of 2008 onwards the future contributions and benefits of the individuals will be projected according to the forecasts of the wage increases and pension benefits. A sensitivity analysis is also performed in order to check the changes in the Generational Accounts of the individuals with different discount rates and including the effects of the New Pension Contract.

Netspar, Network for Studies on Pensions, Aging and Retirement, is een denktank en kennisnetwerk. Netspar is gericht op een goed geïnformeerd pensioendebat.

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