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Michel Vellekoop (Quantitative Economics section, Amsterdam School of Economics) and Anja de Waegenaere (Tilburg University) conducted research into an alternative where the degree of risk could differ per age cohort.

For example, those belonging to the oldest group would be protected. In the alternative, the researchers propose a three-way split in which active participants in a fund bear the risk for the oldest participants and young retirees bear only their own risk.


The research was carried out within Netspar (Network for Studies on Pensions, Aging and Retirement) and published in the Netspar Brief, a publication that regularly presents research to a wide circle of pension professionals, policy makers and academics.

Download Netspar Brief and watch the interview with Michel Vellekoop (in Dutch)