I prefer the old system because it's simpler (the last thing I want to do is manage investments) and it doesn't run out like a personal pension does. You just get the monthly amount as long as you live. Because it's a group scheme. Some people are luckier than others.
Unfortunately Holland has become very neoliberal and everything collective or social is frowned upon. That's really why they changed it.
> the last thing I want to do is manage investments
You are not required to. You can set your portfolio to be 100% mutual funds. Several exist. They have names like "Fidelity Freedom Blend 2045" or the "Blackrock Lifepath 2045." Your provider almost certainly has a default in this category they will pick for you if you signal no other intent.
> Because it's a group scheme
A 401k can be group or individual. It's your money in a special status that's allowed to be used for certain purposes before taxes. The proceeds are tax free under certain circumstances. It's entirely up to you what you do with that money including just stashing it into a fund and forgetting about it.
> and everything collective or social is frowned upon
There are advantages and disadvantages. Populations and circumstances change over time. With the world working to phase out petroleum it should be no surprise that Holland needs to adjust.
> and it doesn't run out like a personal pension does. You just get the monthly amount as long as you live
It doesn't run out? What's this magic infinite money? It doesn't run out because when it runs out other people are working for you. It's a great system that exploits the young to benefit the old that didn't save enough. The new system removes the magic and you have what you saved.
The people that live longer benefit from the ones that don't, but it's about reassurance, it's not an investment. If they had lived longer they'd have had that reassurance too.
Unfortunately Holland has become very neoliberal and everything collective or social is frowned upon. That's really why they changed it.