Standard

Do people really want freedom of choice? Assessing preferences of pension holders. / van Dalen, H.P.; Henkens, K.

In: Social Policy and Administration, Vol. 52, No. 7, 12.2018, p. 1379-1395.

Research output: Contribution to journal/periodicalArticleScientificpeer-review

Harvard

APA

Vancouver

Author

van Dalen, H.P. ; Henkens, K. / Do people really want freedom of choice? Assessing preferences of pension holders. In: Social Policy and Administration. 2018 ; Vol. 52, No. 7. pp. 1379-1395.

BibTeX

@article{01174a2860714147b1948617433f0276,
title = "Do people really want freedom of choice? Assessing preferences of pension holders",
abstract = "Reforms of private pension plans across the world are involving the introduction of more options for pension holders to make choices to suit their preferences. Freedom of choice is not, however, a unidimensional concept despite being commonly perceived as such by policymakers. Using a unique panel survey among Dutch employees, we offer a refined typology of preferences with respect to freedom of choice. For most pension contract issues—level of pension savings, investment choice, and risk coverage—a minority (14–26{\%}) of participants value individual freedom of choice, whereas most would either prefer to let their pension fund make the decisions, or they favor a mixed model whereby they have the option to exercise individual choice but are not obligated to take this option, or they are simply indifferent with respect to how their pension contract is designed and financed. Pension holders who distrust their pension fund or who do not express solidarity with other participants are more likely to prefer freedom of choice than those who feel a high level of solidarity and have a high level of trust in their pension fund.",
keywords = "choice, freedom, the Netherlands, pension funds, private pensions, trust",
author = "{van Dalen}, H.P. and K. Henkens",
year = "2018",
month = "12",
doi = "10.1111/spol.12388",
language = "English",
volume = "52",
pages = "1379--1395",
journal = "Social Policy and Administration",
issn = "0144-5596",
publisher = "Wiley-Blackwell",
number = "7",

}

RIS

TY - JOUR

T1 - Do people really want freedom of choice? Assessing preferences of pension holders

AU - van Dalen, H.P.

AU - Henkens, K.

PY - 2018/12

Y1 - 2018/12

N2 - Reforms of private pension plans across the world are involving the introduction of more options for pension holders to make choices to suit their preferences. Freedom of choice is not, however, a unidimensional concept despite being commonly perceived as such by policymakers. Using a unique panel survey among Dutch employees, we offer a refined typology of preferences with respect to freedom of choice. For most pension contract issues—level of pension savings, investment choice, and risk coverage—a minority (14–26%) of participants value individual freedom of choice, whereas most would either prefer to let their pension fund make the decisions, or they favor a mixed model whereby they have the option to exercise individual choice but are not obligated to take this option, or they are simply indifferent with respect to how their pension contract is designed and financed. Pension holders who distrust their pension fund or who do not express solidarity with other participants are more likely to prefer freedom of choice than those who feel a high level of solidarity and have a high level of trust in their pension fund.

AB - Reforms of private pension plans across the world are involving the introduction of more options for pension holders to make choices to suit their preferences. Freedom of choice is not, however, a unidimensional concept despite being commonly perceived as such by policymakers. Using a unique panel survey among Dutch employees, we offer a refined typology of preferences with respect to freedom of choice. For most pension contract issues—level of pension savings, investment choice, and risk coverage—a minority (14–26%) of participants value individual freedom of choice, whereas most would either prefer to let their pension fund make the decisions, or they favor a mixed model whereby they have the option to exercise individual choice but are not obligated to take this option, or they are simply indifferent with respect to how their pension contract is designed and financed. Pension holders who distrust their pension fund or who do not express solidarity with other participants are more likely to prefer freedom of choice than those who feel a high level of solidarity and have a high level of trust in their pension fund.

KW - choice

KW - freedom

KW - the Netherlands

KW - pension funds

KW - private pensions

KW - trust

U2 - 10.1111/spol.12388

DO - 10.1111/spol.12388

M3 - Article

VL - 52

SP - 1379

EP - 1395

JO - Social Policy and Administration

JF - Social Policy and Administration

SN - 0144-5596

IS - 7

ER -

ID: 9161206