The largest pension schemes in the Netherlands have estimated that future pensioners will have to pay an extra 6% into their retirement plans unless the European Union changes its proposed directive on alternative investment fund managers, according to the first public estimate of the directive’s potential cost to individuals.

Twelve of the country's largest pension schemes wrote a letter on January 8 to the European Parliament's Committee on Economic and Monetary Affairs - a copy of which was obtained by Financial News - in which they criticised the EU's proposed directive on alternative fund managers.