Pension Reform in Belgium

July 1, 1996

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Pension Reform in Belgium, (USA: International Monetary Fund, 1996) accessed November 23, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper reviews the financial implications of aging for the pension system in Belgium during 1995-2050. Our simulations indicate a strong rise in pension expenditure over the next half century, as is the case in other industrialized countries. In Belgium, the problem is particularly acute in the pension system for civil servants. The impact of amending indexation of pension benefits and their ceilings, of harmonizing pension schemes for public and private sector employees, and of increasing the mandatory retirement age is discussed. We also calculate rates of return on the participation in the Belgian pension system and present some evidence on the intergenerational impact of the different reform options.

Subject: Aging, Civil service, Economic sectors, Expenditure, Labor, Pension spending, Pensions, Population and demographics, Public sector

Keywords: Aging, Civil service, Labor cost, Pension spending, Pensionable earnings, Pensions, Pensions of wage-earner, Public sector, Rate of return, Wage bill, Wage growth, Wage history, Wage-earners pension scheme, Wage-earners' pension scheme, Wage-earners' scheme, WP

Publication Details

Pages:

42
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 1996/074
Stock No:

WPIEA0741996
ISBN:

9781451849547
ISSN:

1018-5941

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