A former officer of the company that manages the Netherlands’ biggest (and world’s fifth-biggest) pension fund reflects on the U.S. retirement funding model. (Photo: Shutterstock)

(Bloomberg View) – The headline from the Dutch business newspaper Het Financieele Dagblad caught my eye on Twitter a few weeks ago: ‘America is the example of how not to do pensions.’

The quote was from an interview with Angelien Kemna, who stepped down on Nov. 1 from the top finance job at APG Groep NV, which manages the Netherlands’ biggest (and world’s fifth-biggest) pension fund.

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