Pension System

Defined Benefit Plans

Belgium runs under a Traditional defined benefit (DB) plans, however, defined contribution (DC) plans are becoming increasingly popular. The employed, self-employed and civil servants are compulsorily insured under a statutory pension scheme, with contributions of up to 7.5% from employees and 8.86% paid by the employer. Benefits are then considered income-related, with a minimum income for elderly people.

There are three types of occupational pension plans:

  • company schemes
  • industry-wide schemes, and
  • individual pension promises.

These can be provided by a pension fund, a group pension insurance policy administered through a life insurance company, a collective pension savings account administered through a collective investment institution, or by an individual pension savings plan.

Belgium has bilateral conventions with regard to pensions in the following countries: Algeria, Australia, Brazil, Canada, Chile, Democratic Republic Congo, Croatia, India, Israel, Japan, Macedonia, the Philippines, South-Korea, Morocco, San Marino, Tunisia, Turkey, the United States, Uruguay, Yugoslavia. If you reside in any of these countries, you must submit your pension application to whichever institution is responsible for pensions in your current home country. Be sure you mention the bilateral conventions.

More info on the occupational pension schemes can be found on the following websites: