As with most significant changes, the transition of pension systems requires trust and understanding of the system to go smoothly. That is why it is essential to gauge how the Dutch pension participants view retirement and pension and how they perceive the upcoming change in the pension system. The Glocalities study and the 'Pension of the future' sentiment analysis provide insights into the current and future systems' sentiments, revealing some reasons for concern.
These studies indicate that there is discontentment with the current system. Issues such as raising the state pension age (AOW), not indexing for a long time, and discussing "challenging professions" causes frustration. Sentiment analysis on social media indicates that this frustration is often based on a regularly unsubstantiated gut feeling. Usually, it results from misunderstanding, ignorance, and reasoning from the personal situation. Traditional media also play an essential role, as their critical observations, sometimes without sufficient context or explanation of the transition, cause unrest. Therefore, the online debate about pensions regularly creates polarization between different generations and educational levels.
The analysis showed that many participants fear for the future of their pensions. A third of ABP participants believe that the pension transition will result in a worse situation for them. Only 7% are optimistic and believe the situation will improve. This is also reflected in the government's public monitor for confidence in the pension system, which only scored 5.5 out of 10. This fear of the future is also related to a lack of knowledge about the new system. The Glocalities survey showed that only 3% of the population is well aware of the changes, whilst 25% have never heard anything about the new system
Searches for pensions on search engines have increased with the introduction of the new system. Since 2017, the search for the word pension has increased in frequency by 70%. The number of search terms people use during these searches also rose. They indicated that people do not know how to obtain information about the new system.
Analysis of themes within these searches reflects that pension security remains the most central theme among participants. Themes such as 'sustainability' and 'gender' are subordinate to security and gains. Within these themes, sentiment is divided on social media. For instance, substantial controversy is linked to whether ABP plays a vital role in reducing the gender gap in pensions. Achieving maximum returns appears to be outside the priority of the participants. Pension security remains the most crucial.
To make this transition successful, action is needed to deal with the fear, lack of knowledge, and distrust that persists. This starts with providing more information about the pension system and what the changes entail on a personal level. Input from APG on social media can play a significant role in this. Secondly, more transparency in pension administration can remove misunderstandings. Finally, radiating more diversity can make people who feel they are not being heard more involved. APG, therefore, addresses all these components in its strategy within the transition.