Dutch government tries to avoid cuts to pension payouts
The Dutch government is trying to avert a crisis in the country’s €1.6tn pension industry, with millions of pensioners facing cuts in their retirement income for the first time next year.
Trade union and pension fund officials expect the Dutch government to intervene this week with measures to avoid significant cuts to many people’s retirement income by loosening the sector’s strict funding rules, at least temporarily.
The Netherlands is widely considered to have one of the world’s best-funded and most generous pension systems, so its problems may provide an early indication of a wider global pensions funding shortfall.
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