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Inspiring and innovative

Inspiring and innovative

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Inspiring and innovative

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  1. Inspiring and innovative Prof. dr. Gerry Dietvorst Budapest, July 5th 2007

  2. Enrolment and key figures • Founded in 1927 as Catholic Business School • 11,500 students (2,600 of whom are first-year students) • 1,300 employees (fte), 120 of whom are professors • 30,000 alumni in total • 1,000 PhD degrees in total • 1,500 graduates per year, 50 PhDs, and 1,750 scientific publications

  3. Education • Economics and Business Administration • Law • Social and Behavioural Sciences • Arts • Philosophy • Theology • Catholic Theology

  4. Faculty of Law • 550 first-year students • 2,530 students in total • 120 PhD students/trainee researchers • 40 professors • 250 employees in total

  5. CompetenceCentre for Pension Research • Founded in 2000 • Sponsored by Interpolis Insurance Company • Research centre for fiscal and legal aspects of pensions via: • Research • Education • Public debate • Development of young high pension potentials • www.uvt.nl/ccp

  6. Pensions in the Netherlands

  7. Agenda • Current topics • Overview three pillars • Poldermodel • Pension awareness • Role of the government • Expert groups tax authorities

  8. Current topics • Fast aging population and fertility rate • Lisbon strategy • Pension Reform • Early retirement is not longer encouraged

  9. Current topics • Raise retirement age • 62-65 • Early retirement arrangements not longer supported by tax incentives • Participation elderly employees

  10. Overview first pillar • Started in 1956 • Basic provision • € 16.500 married couple • € 12.500 singles • Not earned income related • Not funded • Pensioners income 50% first pillar

  11. Second pillar • Pension funds from 50-ties • Based on solidarity • From DB to DC • 80% is BD • 95% participation level • Pensioners income 40% pension schemes second pillar

  12. Pension providers second pillar • Branchewide/sectorial pension funds, compulsory by collective agreements • Company Pension funds • Insurance companies • Funded • Assets 750 billion

  13. Third pillar • Insurance companies • From 1970-1990 : mainly tax driven • EET: 17% income duductible • From 1990: only income deductible as far as there is a pensioen gap

  14. Pension awareness • 15% know how much they will receive • Most people are not interested and find pension boring • Most people believe they have a good pension scheme • Most people have no idea how much they will recieve after retirement

  15. Poldermodel • Social partners • Expert group of the fiscal authorities • Lobby of insurers and pension funds

  16. Role of the government • Ministry of Finance • Fiscal framework:EET • Abition level 70% • Detailled • Expert groups • Ministry of social affairs • Protection commitments and vested wrights • Supervision: The Central Bank

  17. Financial planning • What do I want? • What do I have? • What is my pension gap? • What can I do?

  18. Questions?