On June 29th, 2014, an act has entered into force which makes various changes to the legal framework of occupational pensions for employees, self-employed individuals and self-employed company leaders.
Everyone will need to assess whether their existing pension arrangements are in line with the new rules and, if necessary, amend them. Pension funds and insurers will also need to comply with additional obligations and formalities.
The key changes in respect of occupational pension arrangements for employees and self-employed company leaders relate to the following areas:
- Self-employed company leaders
- Obligation to inform affiliates
- Exit from plan
- Retirement age under plan
- Continued employment after the retirement age determined in the plan
- Purchase of real estate in the EEA
- Granting of an occupational pension at the end of a career
- 'Sigedis reporting' versus 'FSMA reporting'
- Prescription period of five years
- Labour courts
- Effective date of new rules
- Harmonisation of occupational pension arrangements for blue-collar and white-collar employees
The Employment and Benefits team of Allen and Overy Belgium has prepared a comprehensive briefing note to document all these changes. It can be downloaded here.
