Increase of the legal retirement age Stricter conditions for early retirement Final rules on the Wyninckx contribution delayed - (Occupational) pensions

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Date:
31 Aug 2015

On 21 August 2015 the Act increasing the legal retirement age and introducing stricter conditions for early retirement (state pension) was published in the Belgian State Gazette.

On the same day the Act of 20 July 2015 relating to various provisions on social affairs appeared delaying a.o. the final rules on the special social security contribution relating to occupational pensions - known as the “Wyninckx contribution” - with another year, until 1 January 2017.

 

Increase of the legal retirement age

As announced in the coalition agreement, additional structural changes to the Belgian pension system would be introduced to guarantee the pension system for a (medium) long period.

After discussion with a commission of experts and the social partners, the die is cast: the legal retirement age will be increased gradually to the age of 66 in 2025 and the age of 67 in 2030.

Stricter conditions for early retirement

The conditions to take early retirement will become stricter again.  Following the first reform introduced by the Government Di Rupo the age and career condition allowing to take early retirement have gradually increased to age 62 and a career of 40 as from 1 January 2016 (with exceptions for long careers).  The Government Michel continues this reform: as from 1 January 2019 the age and career condition will be set at age 63 and a career of 42 years (with exceptions for long careers).  Transitional arrangements similar to the ones of the first pension reform will be implemented.

A more detailed overview of these measures will be given via a Newsletter.

 

Action point
When drawing up “early retirement measures” one has to take into account that new conditions for early retirement apply as from 2017 and that the legal retirement age will increase as from 2025.