The Dutch central bank DNB is calling on people to pay off their mortgages as quickly as possible and to save more money.
‘Be aware things will not get any easier over the coming years,’ DNB director Joanne Kellermann warns in Tuesday’s Algemene Dagblad.
She says people must take into account lower pensions, falling house prices and rising healthcare costs.
Best in the world
The central bank is worried people will get into financial difficulties when they reach retirement age, and says they should be making plans now for their future financial situation.
‘The Dutch pension system is still one of the best in the world,’ Kellermann says in the AD. ‘But a number of changes are on the way and it is important everyone is aware of the risks and thinks about how to finance their old age.’
According to Kellermann, the continuing financial crisis has led to a distrust of the financial sector but people should not let this put them off planning for retirement.
How are you planning for your retirement? Use the comment form below to let us know.