Recent Dutch pension reforms are expected to substantially decrease demand for long-dated government bonds issued by Germany, France, and the Netherlands—particularly those with maturities exceeding 30 years—due to reduced requirements for long-term hedging under the new defined contribution system. This development may lead to elevated yields, a steeper yield curve, and increased market volatility, most notably from early 2026. The strategic shift of funds toward shorter-duration securities and alternative investments underscores significant broader implications for European bond markets.