Family spending institute Nibud says that everybody in work, including freelancers and the self-employed, should be required to build up a supplementary pension by law.

Without such a measure, an increasing number of people will get into financial difficulty when they are older, Nibud says. The institute research shows that 44% of pensioners who worked for themselves have financial problems.

‘People are often too optimistic and would rather spend money than save it for later,’ spokeswoman Gabriella Bettonville told broadcaster NOS. ‘Given that fact, it would be extremely sensible to help people build up a pension.’

While on paper many pensioners are well-off, much of their money is tied up in their own home, Nibud points out. Pensioners are often reluctant to move to release the cash and are too optimistic about how much money they will actually gain, the Nibud research shows.

Social affairs minister Wouter Koolmees has asked the unions and employers to work together to find way to reform the current Dutch pension system, which is regarded as one of the best in the world.