Young Dutch part-time workers are not deterred by the prospect of a smaller pension pot at retirement, according to research by the Dutch Federation of Pension Funds (Pensioenfederatie).
Research by the federation found that almost all young adult part-time workers (25-39 years old) know that working part-time will equate to less pension. Despite this, many are putting off contributing to a supplementary pension.
Four in six young adult part-timers said they would take action on their pension in the future, while a small group is already taking some form of action.
The survey also found that two-thirds of part-time workers believe it is the employer’s responsibility to inform them about the consequences of part-time work.
More and more young adults are choosing to work part-time for reasons such as parenthood (and the associated care for children), as well as the desire for a good work-life balance with time and space for family, friends, sports and hobbies.
The majority of these part-time workers are satisfied with their employment and over half (52 per cent) want to keep working the same number of hours.
However, 23 per cent plan to work more in the coming years for reasons such as, increased disposable income, decreasing childcare, financial need and ambition to develop themselves more in work.
Pensioenfederatie chair, Ger Jaarsma, advised employees against remaining passive in relation to pensions as it is not an employer's duty to inform part-time workers about pension consequences.
"More than 80 per cent of employers offer a pension scheme. It is an important employment condition. But it is regulated differently by sector and sometimes by employer,” he said.
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