Amount saved in life course schemes increases for the first time

27/07/2010 15:00

Last year, employees saved 908 million euro in life course schemes, an increase by over 10 percent relative to 2008. They withdrew more than 164 million euro in 2009, over 35 percent more than in the preceding year. The total amount outstanding in life course savings accounts was nearly 3.3 billion euro by the end of last year.

Higher amount saved in life course schemes

After the introduction of the life course savings scheme in 2006, the overall deposit decreased annually, but the situation changed radically in 2009, when the total amount deposited in life course savings accounts was the highest ever. Possibly, the recent discussion about raising the retirement age plays a part in this respect. The amount deposited in life course schemes in 2009 was the highest ever.

Deposits and withdrawals life course schemes

Deposits and withdrawals life course schemes

Largest amount in savings accounts

The life course scheme was introduced more than four years ago. According to the most recent figures published by Statistics Netherlands and the CVS/Dutch Association of Insurers, the amount outstanding in life course schemes totalled nearly 3.3 billion euro by the end of 2009. Nearly three quarters was deposited in savings accounts. The remainder is used for securities-based insurances or invested in investment funds.

Lia Siebeling, Stephanie Broeder (CVS/Verbond)