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calls for Belgian pensions reform
Expatica News, 28 April 2003
BRUSSELS – A new OECD report
has suggested Belgium contemplate a major reform of its pension system.
The Organisation for Economic
Cooperation and Development's 141-page report noted that Belgium’s three
statutory pension schemes (public sector, private sector, self-employed),
calculate retirement pensions differently.
should be actuarially neutral, and retirement arrangements should be
brought into line with longer life expectancy, thus retiring early should
mean a smaller pension, and retiring later a larger one," said the
"Belgium is a
crossroads," it continued, "either it looks to the future and
acknowledges that its best interest lies in stopping the premature
withdrawal from the labour market of older workers… or it decides to
carry on promoting early retirement."
Efforts by the Belgian
government to increase the employment rate of older workers may not be
sufficient to reverse the trend and alleviate pressure created by an
By 2050, the number of people
aged 65 and over is likely to be half the number of people aged 20-64,
compared with just over a quarter in 2000.
The OECD's Belgian report is
one of the first of 20 such reports due to be published over the next two