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Expected and actual replacement rates in the pension system of the Netherlands: how and why do they differ?

Van Duijn, Mark ; Mastrogiacomo, Mauro ; Lindeboom, Maarten and Lundborg, Petter LU (2013) In Journal of Pension Economics and Finance 12(2). p.168-189
Abstract
This study examines the expected retirement replacement rates (RRs) of several cohorts of Dutch employees at the time of their planned retirements. It also computes RRs based on the available pension records. We find that the expected replacement rate (E(RR)) is, in general, higher than the ones we compute. Larger discrepancies are found for younger cohorts and for individuals with less education and working experience. We also examine the difference between the expected and computed RRs and find that the mismatch is mostly related to poor institutional knowledge. We also show the role of assumptions about institutions and wage profiles in determining our results.
Please use this url to cite or link to this publication:
author
; ; and
organization
publishing date
type
Contribution to journal
publication status
published
subject
keywords
Replacement rate, expected retirement, Oaxaca decomposition
in
Journal of Pension Economics and Finance
volume
12
issue
2
pages
168 - 189
publisher
Cambridge University Press
external identifiers
  • wos:000316065800002
  • scopus:84880533858
ISSN
1475-3022
DOI
10.1017/S1474747212000315
language
English
LU publication?
yes
id
f410c2f3-6977-4090-b184-61973e039dcc (old id 3636074)
alternative location
http://journals.cambridge.org/action/displayFulltext?type=1&pdftype=1&fid=8854162&jid=PEF&volumeId=12&issueId=02&aid=8854160
date added to LUP
2016-04-01 10:29:15
date last changed
2022-04-04 18:35:59
@article{f410c2f3-6977-4090-b184-61973e039dcc,
  abstract     = {{This study examines the expected retirement replacement rates (RRs) of several cohorts of Dutch employees at the time of their planned retirements. It also computes RRs based on the available pension records. We find that the expected replacement rate (E(RR)) is, in general, higher than the ones we compute. Larger discrepancies are found for younger cohorts and for individuals with less education and working experience. We also examine the difference between the expected and computed RRs and find that the mismatch is mostly related to poor institutional knowledge. We also show the role of assumptions about institutions and wage profiles in determining our results.}},
  author       = {{Van Duijn, Mark and Mastrogiacomo, Mauro and Lindeboom, Maarten and Lundborg, Petter}},
  issn         = {{1475-3022}},
  keywords     = {{Replacement rate; expected retirement; Oaxaca decomposition}},
  language     = {{eng}},
  number       = {{2}},
  pages        = {{168--189}},
  publisher    = {{Cambridge University Press}},
  series       = {{Journal of Pension Economics and Finance}},
  title        = {{Expected and actual replacement rates in the pension system of the Netherlands: how and why do they differ?}},
  url          = {{http://dx.doi.org/10.1017/S1474747212000315}},
  doi          = {{10.1017/S1474747212000315}},
  volume       = {{12}},
  year         = {{2013}},
}