An increase in average life expectancy in the Netherlands of between a tenth and half a year has added about €11bn to the bills of the country's four biggest pension funds in 2010, it emerged yesterday, illustrating once again the strain being put on savings as populations live longer.

The Netherlands has the second biggest savings industry in Europe, and its four largest schemes - ABP, the fund for civil servants, PfZW, the fund for healthcare workers, and PMT and PME, two funds covering industrial workers - manage €397bn in assets.