Post on 23-Jan-2016
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The Pension Scene in Belgium
Karel Van GutteGeneral Secretary
Thuesday 25th October 2011
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Agenda
1. Introduction
2. Some challenges for the future
3. Some orientations
4. And the 2nd Pillar?
5. What is BAPI ?
6. 3 Pillar system
7. A few figures
8. Caracteristics of the Belgian system
9. Final comments
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2. Some challenges for the future
At The Origin of the pensions:
1.No international careers
2.No flexibility
3.Carreers stopped at 60/65
4.Long-Life-Risk
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3. Some orientations
Let’s stick to the principles of “pensions”:
1.Make the 1st pillar strong and balanced
2.Provide greater equality
3.Adjust statutes
4.Make the retirement age variable
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4. And the 2nd pillar?
2 Possibilities:
1.Via a pension fund
2.Or through a group insurer
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5. What is BAPI-BVPI-ABIP?
BAPI and its full members are 100% not-for profit:
1.Organises pension funds & sectoral sponsors
2.150 full members + 6 associated members
3.2nd pillar = € 60 bn AUM:
1. € 39 bn= group insurance
2. € 16 bn = pensionfunds
4.Spokesmen
5.Member of AEIP and EFRP
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6. “3” Pillar system
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7. Few Figures
Evolution of the asset mix of pension funds
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7. Few Figures
Annual investment returns since 1985
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8. Caracteristics of the Belgian system
Belgian system selected by AON-Hewitt, Towers Watson..
1.Outsourcing of pension promise
2.Required yield of 3,25/3,75% & cost control
3.Paritarian management
4.Strong social and prudential supervision
5.Necessary to fill the 1st pillar
6.2nd pillar has a social role
7.Final responsibility of the sponsor
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9. Final comments
1. Important role for social partners
2. Strong first pillar
3. Guarantee for the intrest of the members
4. The odds are good:
1. Growing market
2. Stable social partners
3. Skilled people
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Thank you for your attention
Questions ?
Karel Van Gutte – Secretary-GeneralBelgian Association of Pension InstitutionsBoulevard A. Reyerslaan 801030 BrusselsTel. : 02/706.85.45 - Fax : 02/706.85.44E-mail: info@pensionfunds.bewww.pensionfunds.be