Legislation to allow self-employed people in Belgium to accrue second-pillar pension benefits has been approved almost unanimously.
Self-employed traders or craftsmen have to date not had the same entitlements to occupational pension benefits as self-employed people registered as company directors.
But according to The Brussels Times, under the new rules, the system will be extended to everyone – about 432,500 people - who are predominantly self-employed. They include assisting spouses, self-employed carers and those with supplementary self-employed status.
In return for complying with an income tax limit of 80%, self-employed workers will see a 30% cut in premiums paid. Supplementary pension benefits are taxed separately, at a rate of 10%.
The new legislation was proposed both by Minister for the Self-employed and Small Businesses, Denis Ducarme, and the Pensions Minister Daniel Bacquelaine. It is another step towards the Belgian Government’s stated aim of harmonising pension regulations and encouraging the self-employed to save more towards retirement, according to Investment & Pensions Europe.
Gill Oliver is a business and property journalist who has written for The Daily Mail/Mail Online's This is Money, The Press Association and many national and regional newspapers and magazines.
Legislation to allow self-employed people in Belgium to accrue second-pillar pension benefits has been approved almost unanimously.
Self-employed traders or craftsmen have to date not had the same entitlements to occupational pension benefits as self-employed people registered as company directors.
But according to The Brussels Times, under the new rules, the system will be extended to everyone – about 432,500 people - who are predominantly self-employed. They include assisting spouses, self-employed carers and those with supplementary self-employed status.
In return for complying with an income tax limit of 80%, self-employed workers will see a 30% cut in premiums paid. Supplementary pension benefits are taxed separately, at a rate of 10%.
The new legislation was proposed both by Minister for the Self-employed and Small Businesses, Denis Ducarme, and the Pensions Minister Daniel Bacquelaine. It is another step towards the Belgian Government’s stated aim of harmonising pension regulations and encouraging the self-employed to save more towards retirement, according to Investment & Pensions Europe.
Gill Oliver is a business and property journalist who has written for The Daily Mail/Mail Online's This is Money, The Press Association and many national and regional newspapers and magazines.
