The credit crunch is beginning to have an effect on the financial circumstances of the Dutch. A good 50% of Dutch people are worrying about their financial circumstances.
- 39% of Dutch people fear for their pensions
The credit crunch is beginning to have an effect on the financial circumstances of the Dutch. A good 50% of Dutch people are worrying about their financial circumstances. The biggest worries relate to pensions (39%), making ends meet from day to day (39%) and their children's futures (38%), according to a survey carried out by Delta Lloyd Life Insurance NV*. Worries about provision for retirement have actually doubled since the credit crunch. For over 8% of Dutch people their financial worries are so serious, that they keep them awake at night. Worries about the status of pensions lie behind almost half of these cases.
No awareness of the effect of the credit crunch on pensions
There is a considerable lack of clarity about the consequences of the credit crunch for the status of pensions. A quarter of Dutch people think that there is no change. A similar-sized group thinks that pensions will be worthless. Half of Dutch people have no idea what's happening with their pensions. 46% of Dutch people are convinced that they have a guaranteed pay-out at the point when they retire.
Hand on the pursestrings
It's logical that a good proportion of the Dutch have concerns about their financial circumstances. Just over 28% are already now discovering the negative financial consequences of the credit crunch. Half of Dutch people are taking measures to secure their financial future or are giving it serious thought.
Certainty of pension pay-out
Due to a lack of clarity about the consequences of the credit crunch for their retirement provision, 78% of the Dutch need total certainty when it comes to the amount of their pension pay-out. Emiel Roozen, chairman of the board of Delta Lloyd Life Insurance NV, is concerned about the findings of the survey: "The fact that so many Dutch people want certainty, but don't know what the amount of their pension pay-out is, is worrying. These concerns may be justified. A group of employees retiring now are already discovering the problems caused by the credit crunch. The value of their pensions has been reduced. Delta Lloyd recognises this, and, as an expert insurer, tailors its products- and service provision in the best way possible. One solution which Delta Lloyd is offering to employees who are about to retire is the Pension Stabiliser. With the Pension Stabiliser the risk to interest when purchasing a pension dividend is minimised. Through this, Delta Lloyd is offering employees more certainty about the amount of their pension pay-out."
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* MSI-ACI Europe conducted a quantitative survey of 540 Dutch people between the ages of 18 and 65 in December 2008, commissioned by Delta Lloyd.
Further information:
Marijke Peijnenburg
Spokesperson Delta Lloyd Insurance
Telephone: 020 594 29 39
E-mail: pers@deltalloyd.nl