Panel of 12 experts to help with pension reform

Belgian minister for pension Alexander De Croo and minister for the self-employed and SMEs Sabine Laruelle have announced that 12 industry experts have been put in charge of preparing a second instalment of pension reform to the Belgian pension system for between 2020 and 2040, writes European Pensions’ Adam Cadle. Speaking to RTL, Laruelle stated that a new system must be implemented that “will last” and be “financially stable.” An initial Belgium reform had targeted longer careers and the harmonisation of the minimum pension. In 2010, 17% of the population was over 65 and this figure is expected to increase by 25% by 2060. Further, the number of active workers is expected to decline from 2.5 per pensioner in 2012 to 1.5 per pensioner in 2040. “A good pension system is certainly favourable to competitiveness, and is another reason to reform our pension system which is no longer able to resist the impact of ageing,” said Leuven University professor Jan Hindriks. Also among the experts is Flemish MP and minister Frank Vandenbroucke.