So much money is being taken out of annuities and other insurance-based savings schemes and transferred to banks that some life insurers could end up in financial difficulty, the Telegraaf reports on Friday.

According to central bank figures, the Dutch had €8.6bn in specialised tax-free bank savings accounts at the end of June, more than double the year earlier total.
Since banksparen was introduced in 2008, Dutch consumers have been able to start tax-free saving plans with banks or investment firms for purposes such as an extra pension or to pay off a mortgage. Some 600,000 of these specialised savings schemes have now been taken out.
For the central bank report on this, in English, click here