Linner work and pension
To strengthen the link between work and pensions, the government has implemented several measures including:
– the tightening of access to early pension (60 years, 42 years of career, 6 months worked in 2027 instead of 4 for a year account).
-A bonus-malus: those who go to the early pension without having worked sufficiently financially penalized, those who work after the legal age of the pension and have actually worked quite throughout their careers will have a financial bonus.
– The decrease in the share of assimilated periods either on unrelated days (sick leave, unemployment, etc.) recorded as days worked for the opening of pension rights and the calculation of the amount of the pension.
From € 53 to 134 € less per month
The Enéo study calculated the concrete impact that these measures will have for a worker with 45 years of career including 11 years of unemployment.
The reform limiting to 20% the share of assimilated periods, only 9 years of unemployment will be taken into account with a fictitious salary lower than that currently applied.
According to Fediplus, ASBL specializing in retirement systems, each year which is no longer assimilated would cause € 44/month of pension to be lost for a gross annual salary (SAB) of € 40,000; € 66 (€ 132) for a SAB of € 60,000 and € 85 (€ 170) for SA of € 76,395.
To this must be added the less favorable financial impact for assimilated years: loss of € 8.75/month for a SAB of € 40,000; € 32/month (€ 60,000); € 49/month (€ 76,395).
These measures will therefore contribute to lowering the most fragile pensions, worries Enéo, which recalls in the process that the replacement rate of legal pensions in Belgium (60.9%) is low compared to other EU countries: 98% in Portugal, 93% in Luxembourg and the Netherlands, 87% in Austria, 71% in France.
Fears concerning the 2nd pillar
The legal pension or first pillar replacing only 60% of the previous wages, the 2nd pillar is essential. Wever’s government wants to boost the employer’s contribution by 2035 up to minimum 3% of gross salary.
But these complementary pensions which strongly depend on employers do not correct social inequalities, underlines Énéo. As of January 1, 2024, half of the workers affiliated to an additional pension had spared, by Pensionsstat, less than € 3,586: less than € 4,693 for men, less than € 2,419 for women.
The generalization of additional pensions will not guarantee everyone a decent life income and risks weakening the first pillar, guarantor of intergenerational solidarity.
And they have a cost: the Planning Office estimated that the advantageous tax regime of which they are deprived of the State of almost 2 billion of public revenue in 2019, recalls Énéo who requires better supervision of exemptions.
