In 2001 the participants in company savings schemes deposited over 2.2 billion euro. The growth rate in deposits has been minimal since 1997. 1.7 billion euro was withdrawn from the company savings schemes in 2001.
These payment were mainly done by deblocking the account. The savings balance on the company savings schemes was 8,1 billion euro by the end of 2001 according to the latest figures by Statistics Netherlands.
Deposits in company savings schemes slightly up in 2001
Participants in company savings schemes deposited over 2.2 billion euro in 2001. This is a small increase in comparison to 2000 (+2.4%). Over the last four years the deposits hovered around the 2,2 billion euro. The savings balance at the end of 2001 was 8.1 billion euro.
Deblocking main form of repayment
In 2001 a total of 1.7 billion euro was paid out by the company savings schemes. 1 billion euro was paid by deblocking the account. According to the law, deblocking the account is allowed in the case of buying a home, paying a life insurance premium, or upon termination of employment.
After four years the money in the account becomes freely available without deblocking. In 2001 the amount freely available was nearly 700 billion euro. This is only 32% of the amount deposited in company savings schemes in 1997.
Saving up is becoming popular again
In 2001 the savings balance of private individuals (including company savings schemes) increased by almost 19 billion euro to 153 billion euro. This increase is much bigger than in 2000 (+3.9 billion euro). Changes in the tax law caused a major transfer of sums from fiscal investment funds to savings accounts during the first few months of 2001. The poor investment climate of 2001 also
contributed to the popularity of savings.
In the first quarter of 2002 there was a 2,7 billion euro increase in savings balance. This is much less than in the same period of 2001. The first quarter of 2001 was exceptional, however, because of the changes in the tax system. In 1995-2000 the first quarter increases averaged 1.5 billion euro.
(source: Statistics Netherlands)
