The Netherlands may be an extreme case, both in terms of observed retirement patterns as well as in terms of the characteristics of the institutional setting. Since the mid-seventies Labour force participation rates of elderly males (55 years and older) have dropped about 50% points to a current level of less 30%. Employer provided Early Retirement (ER) schemes allow for retirement at the age of 60, or sometimes even earlier 2 . In addition to these schemes there are Unemployment Insurance schemes (UB) and Disibality Insurance schemes (DI) to protect.
