Pensions and retirement plans—Belgium—Q&A guide

The following Pensions practice note provides comprehensive and up to date legal information covering:

  • Pensions and retirement plans—Belgium—Q&A guide
  • 1. What are the main statutes and regulations relating to pensions and retirement plans?
  • 2. What are the primary regulatory authorities and how do they enforce the governing laws?
  • 3. What is the framework for taxation of pensions?
  • 4. What is the state pension system?
  • 5. How is the state pension calculated and what factors may cause the pension to be enhanced or reduced?
  • 6. Is the state pension designed to provide a certain level of replacement income to workers who have worked continuously until retirement age?
  • 7. Is the state pension system under pressure to reduce benefits or otherwise change its current structure in any way on account of current fiscal realities?
  • 8. What are the main types of private pensions and retirement plans that are provided to a broad base of employees?
  • 9. Are employers required to arrange or contribute to supplementary pension schemes for employees? What restrictions or prohibitions limit an employer’s ability to exclude certain employees from participation in broad-based retirement plans?
  • More...

Pensions and retirement plans—Belgium—Q&A guide

This Practice Note contains a jurisdiction-specific Q&A guide to pensions and retirement plans in Belgium published as part of the Lexology Getting the Deal Through series by Law Business Research (published: January 2021).

Authors: Claeys & Engels—Jan Van Gysegem

1. What are the main statutes and regulations relating to pensions and retirement plans?

The Belgian legal framework on occupational pension schemes consists of social protection and prudential protection measures.

Social protection is primarily laid down in the Law of 28 April 2003 on occupational pension plans and its implementing royal decrees. Other social laws may come into play in the field of pensions, such as, primarily, the Law of 3 July 1978 on employment contracts and the Collective Bargaining Agreement No. 32-bis on transfers of undertakings.

The prudential protection is twofold depending on the nature of the pension vehicle, which can be an insurance contract or a pension fund.

Insurance companies, which account for roughly two-thirds of the occupational pension assets in Belgium, are primarily subject to the Law of 13 March 2016 on the status and supervision of insurance and reinsurance companies and its implementing royal decrees and regulations (which implement the EU solvency directives).

Pension funds, which account for roughly one-third of the occupational pension assets in Belgium, are primarily subject to the Law of 27 October 2006 on the supervision of Institutions for Occupational

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