Pension Funds and Ageing Society Pensions, housing &  long term care envisioning the future……….  London, 10 November 2011 ...
 
<ul><li>Cooperative: 560.000 members </li></ul><ul><li>Originates from (19) pension schemes in health care and social serv...
Dutch Pension System Three pillar model Private life insurance/savings arrangements funding Supplementary (occupational) p...
Trends: people are getting older Source: PGGM Men Women Men, old trend Women, old trend
Trends: an aging society Sorce: CBS 1950 2008 2050
Societies in Transformation 2010   2030   2050
Trends: increase ageing-related public spending Increase from 12.4% to 20.3% of public spending
Larger slice of personal income to healthcare and pensions 2011: Personal income  €  30.000 2031: Personal income  €  30.0...
Healthcare labor demand larger than supply (Netherlands untill 2025) Total labor supply Labor demand Healthcare
Pensions, care and housing have similar ‘careers ’ AGE -> AGE -> 18-30 30-55 55-65 65-75 >75 Pensions Saving (related to i...
Bron: Martin van Rijn, Wouter Koelewijn en Niels Kortleve en (2010), ‘Naar een bredere kijk op pensioen’, ESB 95(4598), 26...
OECD: Transforming Pensions and Healthcare Source: concluding slide of Juan Yermo, OECD, “Transforming Pensions and Health...
Innovation projects around New Old Age <ul><li>Invest in housing with elderly care </li></ul><ul><li>“ Health Care Miles” ...
Conclusion <ul><li>We want to help people to realize a valuable and worthy future </li></ul><ul><li>Separate domains: solu...
Movie New Old Age
 
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Gert jan sikking

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TBLICONFERENCE Europe 2011

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  • De levensverwachting zal naar verwachting stijgen . We zullen dus langer gebruik maken van pensioen, zorg en woonvoorzieningen. Maar ook behoeften van burgers veranderen, zeker ook die van ouderen. We willen een steeds hogere kwaliteit van leven, tot op hoge leeftijd. We hechten meer en meer waarde aan welzijn , naast financiële onafhankelijkheid. En we willen kunnen kiezen. Altijd en overal. En hoewel we volledige keuzevrijheid nastreven, eisen we tegelijkertijd gevrijwaard te worden van allerlei risico’s. We willen veiligheid en geborgenheid, en kunnen vaak maar moeilijk verkroppen dat een risicovrije samenleving een idee-fixe is.
  • Een bekend gegeven: de samenleving vergrijst en we leven langer. Deze demografische ontwikkelingen hebben invloed op werk, pensioen en zorg. Dit betekent voor het arbeidsaanbod dat dit schaarser wordt (werk) Er dreigen tekorten te ontstaan op de arbeidsmarkt, bepaalde sectoren krimpen en bepaalde sectoren zullen groeien (denk aan de zorg). We hebben dus mensen nodig. Vergrijzing en het feit dat we langer leven betekent voor pensioen dat de betaalbaarheid ervan in gevaar komt. Nu: drie werkenden betalen voor 1 oudere. In 2050: één werkende betaalt voor 1 oudere Vergrijzing betekent ook dat er meer vraag zal komen naar zorg.  
  • Gert jan sikking

    1. 1. Pension Funds and Ageing Society Pensions, housing & long term care envisioning the future………. London, 10 November 2011 Gert-Jan Sikking, Innovation PGGM
    2. 3. <ul><li>Cooperative: 560.000 members </li></ul><ul><li>Originates from (19) pension schemes in health care and social services sectors (founded 1969) </li></ul><ul><li>6 pension funds as clients </li></ul><ul><li>Pension service provider (not the fund!): 2.3 mln. participants, €100 bln AUM </li></ul><ul><li>N o 2 in Netherlands, N o 3 in Europe </li></ul>
    3. 4. Dutch Pension System Three pillar model Private life insurance/savings arrangements funding Supplementary (occupational) pensions (supplements state pension to approx. 70% of salary) funding State pensions € 18,000 (couples) € 13,100 (singles) pay-as-you-go
    4. 5. Trends: people are getting older Source: PGGM Men Women Men, old trend Women, old trend
    5. 6. Trends: an aging society Sorce: CBS 1950 2008 2050
    6. 7. Societies in Transformation 2010 2030 2050
    7. 8. Trends: increase ageing-related public spending Increase from 12.4% to 20.3% of public spending
    8. 9. Larger slice of personal income to healthcare and pensions 2011: Personal income € 30.000 2031: Personal income € 30.000 <ul><li>AOW-premium: € 5.500 </li></ul><ul><li>AWBZ: € 3.600 </li></ul><ul><li>Pension: € 2.200 </li></ul><ul><li>Health insurance € 100 p.m. </li></ul><ul><li>Taxes € 800 (= paid by employer) </li></ul><ul><li>Total of 44% of personal income to healthcare and pensions </li></ul><ul><li>AOW-premium: € 9.000 </li></ul><ul><li>AWBZ: € 6.000 </li></ul><ul><li>Pension: € 2.200 </li></ul><ul><li>Health insurance € 175 p.m. </li></ul><ul><li>Total of 64% of personal income to healthcare and pensions </li></ul>
    9. 10. Healthcare labor demand larger than supply (Netherlands untill 2025) Total labor supply Labor demand Healthcare
    10. 11. Pensions, care and housing have similar ‘careers ’ AGE -> AGE -> 18-30 30-55 55-65 65-75 >75 Pensions Saving (related to income) Withdrawal Health status Healthy Minor complaints Limited Housing Solo/ Duo Family Empty nest Modi-fied
    11. 12. Bron: Martin van Rijn, Wouter Koelewijn en Niels Kortleve en (2010), ‘Naar een bredere kijk op pensioen’, ESB 95(4598), 26 november 2010 Flexibel pension: over life cycle and over domains lifecycle Flexible capital appreciation over the life cycle Pension, capital, income Human Capital Healthcare and wellbeing Housing Domains Flexible capital appreciation over domains Education Pension capital in own house Time for taking care for children and parents Use value of house for health care costs Vitality
    12. 13. OECD: Transforming Pensions and Healthcare Source: concluding slide of Juan Yermo, OECD, “Transforming Pensions and Healthcare in a Rapidly Ageing World: Opportunities and Collaborative Strategies “
    13. 14. Innovation projects around New Old Age <ul><li>Invest in housing with elderly care </li></ul><ul><li>“ Health Care Miles” </li></ul><ul><ul><li>Non-monetary currency to support informal care </li></ul></ul><ul><li>Health care saving </li></ul><ul><ul><li>Similar as Pension saving, but different payout </li></ul></ul><ul><li>Reverse mortgage products / sale-lease-back </li></ul><ul><ul><li>Use value of house to make adjustments in house and finance required care </li></ul></ul>
    14. 15. Conclusion <ul><li>We want to help people to realize a valuable and worthy future </li></ul><ul><li>Separate domains: solutions within domains are suboptimal for citizens </li></ul><ul><li>More flexibility needed over life cycle and between domains </li></ul><ul><li>PGGM is making steps in integrating domains </li></ul>
    15. 16. Movie New Old Age

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