Some 20 of the 50 biggest Dutch corporate pension schemes have switched from guaranteed pension payouts to a defined contributions scheme, the Financieele Dagblad says on Monday.

Many other companies are making preparations to change as well, Tim Burggraaf of advisory group Mercer told the paper.

ING, Rabobank and AkzoNobel are among the firms which have made the switch, the paper says. A move from defined benefits to defined contributions means workers carry more of the risk, the paper says.

If investments perform badly, workers get lower pensions and companies do not have to make up the difference, as they can do under final salary schemes.