Impact on customers of Zwitserleven from the rise of the retitrement age due to the coalition agreement Rutte-Asscher (VAP Act)
This thesis discusses and analyses the impact on customers of Zwitserleven from the rise of the retirement age due to the coalition agreement cabinet Rutte-Asscher, also called the VAP Act. Thepurpose of this thesis is to find the optimal retirement age for participants of Zwitserleven for accrued pension rights and future pension accrual. This is being done by submitting a questionnaire withquestions and statements to 7 representatives of departments of Zwitserleven. These respondents are not chosen randomly, but top-down in the organization of Zwitserleven. They answered the questionnaire mostly in the view of the participant. Empirical analysis seems to indicate whether the retirement age of accrued pension rights and future pension accrual should be on age 65 or age 67.This makes three scenarios. In the first scenario the retirement age will remain 65 for accrued pension rights and future pension accrual. In the second scenario the retirement age will remain unchanged atage 65 for accrued pension rights, but the future pension accrual will be with retirement age 67. In the third scenario the retirement age will change to 67 for both accrued pension rights and future pension accrual.The empirical analysis does not directly indicate which scenario is optimal. The mean values and the standard deviation on the different statements, which concern the retirement age of participants, donot give a clear conclusion. Correlation coefficients are being used to determine whether there is unanimity within the organization of Zwitserleven on the discussion of the retirement age. Theconclusion is that there is no unanimity within the organization, both for the correlation between the different statements, as well as between the different departments.The respondents were also asked directly to choose the optimal scenario. Six out of seven respondents chose for scenario 2, which means that the retirement age of accrued pension rightsremain unchanged, but future pension accrual should be on retirement age 67.The announcements of Dutch competitors of Zwitserleven on the rising retirement age also gives a clear picture on the retirement age of accrued pension rights, which will remain unchanged at age 65.Changing the retirement age for future pension accrual to age 67 is for most pension insurers desirable, even though the general opinion of the pension insurers is that if not necessary, in the situation that the fiscal limits are not reached, the pension agreements will not be adjusted. The most important reason for this is that all pension agreements need to be adjusted again at 1st January 2015.This is also a recommendation for future research, when the policy of the government regarding the retirement age and the fiscal framework are finally known. Besides this, future research is possible inthe view of the employer, the distribution partner, or with an internal focus of Zwitserleven.