Things are moving for our pensions. After a first measure which came into force on July 1 (since July, if a worker postpones his retirement and works beyond the nearest pension date, he will be able to receive a bonus for a maximum of three years in the form of ‘a single payment or monthly payments) we learned today that a new decision, which will concern millions of workers, has been made.
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Indeed, for the first time since 2015, employers will have to guarantee a return of more than 1.75% for their staff’s group insurance contributions. The legal return guarantee will increase from January 1 to 2.5%, it is indicated on the website of the financial markets authority FSMA.
Information about the new minimum return on supplementary pensions was revealed by the daily De Tijd. This increase, confirmed by the FSMA, was expected. This minimum rate of return protects workers from market fluctuations.
Previously, the law on supplementary pensions provided for a guaranteed interest rate of 3.75% on personal contributions and 3.25% on employer contributions. The context of low interest rates, however, made this minimum rate unsustainable. The social partners therefore carried out a reform of the system, linking the return on group insurance to that of 10-year Belgian State bonds. Since 2016, the interest rate has been calculated annually and must be between 1.75 and 3.75%.
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However, this minimum interest rate has never exceeded 1.75% since the start of the reform. This will therefore change from January 1, 2025, when it will be increased to 2.5%.
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