Secondly, we live longer. At the time the public pension scheme (AOW) was introduced (1957), the average remaining life expectancy at age 65 was less than 15 years. Nowadays, new AOWbeneficiaries expect to receive AOW-benefits for more than 18 years on average. 4  R&D-expenditures divided by value added.
So after telling you about the new money, the time has come to show it to you. 2  BIS central bankers’ speeches