Official visit of Minister Daniel Bacquelaine to The Hague

On Tuesday, 8th September 2015, the Belgian Minister for Pensions travelled to the Hague to meet his Dutch colleague, the undersecretary in charge of pensions. This official visit has enabled him to get to know the Dutch pension system in force, in particular insofar as supplementary pension are concerned.

Minister for Pensions Daniel BACQUELAINE : « Given population ageing which constitutes a challenge for the whole of Europe, I am keen on meeting people, who – just like us – make efforts to reform their pension systems. It is in the interest of policy makers to exchange best practices and to discuss the difficulties encountered when adapting their pensions systems to a changing society. Following the reform of the first pension pillar (a pay-as-you-go pension scheme) the second pillar (a funded pension system) is next. Such reforms are indispensable to reinforce the purchasing power of our elderly. Undoubtedly, we can get ideas – inspiration even – from the Dutch pension system covering almost all employees by a supplementary pension  ».

The official visit started with bilateral talks between the Belgian minister Daniel BACQUELAINE and the Dutch undersecretary Jetta KLIJNSMA. This exchange of ideas enabled them to elaborate on recent pension reforms and was followed by a round table conference bringing together experts and the senior managers of the main pension funds.

The Belgian Minister for Pensions did not choose the Netherlands haphazardly: the pensions in this country, one of our neighbours and friends, has an extremely high replacement rate (the relation between one’s pension and last wage). Therefore, the purchasing power of the Dutch elderly will be maintained. The first pension pillar in the Netherlands is extremely egalitarian and simple: everyone receives a ‘fixed sum pension’ calculated according to the duration of one’s residence in the Netherlands.

Before taking the train back home the Belgian delegation visited INTERFISC, a company with Belgian roots, which is, inter alia, active on the Dutch market offering services usually associated with a ‘social secretariat’. Its management explained to the minister how companies provide funded pension schemes highlighting the benefits of such schemes.

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