Corporate defined-benefit plans suffer from a number of serious weaknesses, including credit risk of the sponsor, ambiguous ownership of the surplus and back-loading of benefits. Also defined-contribution plans feature drawbacks. Individuals are not well equipped to make the complex financial...

EIOPA has recently proposed to introduce standardized pan European personal pension products (PEPPs) that would be available in the accumulation phase, jointly with national personal pension plans. This paper analyzes the PEPPs from the perspective of the academic literature and proposes to use...

This paper examines policies for the decumulation of pension wealth in the Netherlands. It suggests a design framework based on economic theory and international evidence. The central message is that a well-designed pension system has an important – although certainly not exclusive – role...