Oops, we didn’t see that coming
This can sometimes create skewed situations. Someone who has effectively worked for 40 years is not eligible for early retirement because he or she does not meet the career requirement of 42 years. On the other hand, someone who has worked for 30 years, but has 15 years of equivalent periods, may be eligible for a more favorable pension calculation. This is because the pension calculation is based on the number of career years, regardless of how many of them were actually worked. Are you still following the logic?
Other options to retire early
In addition to early retirement, there are other options to wind down your career earlier. Maes explains: “The SWT, the former bridging pension, was the most popular method to leave the labor market early for years. Employees could be dismissed from the age of 60 and then received a high unemployment benefit. But since 2015, that system has been severely curtailed and SWT employees must remain available for the labor market.”
The runway
In contrast, the system of landing tracks is rapidly gaining popularity. This end-of-career system allows employees to work half-time or four-fifths from the age of 60, provided they have a career of 25 years. You will then receive a flat-rate RVA benefit of approximately 400 euros net per month for a half-time landing track and approximately 180 euros for four-fifths, depending on your family situation. However, this is only possible if a collective labour agreement has been concluded at sector or company level.
For employees with a more demanding profession or a career of 35 years, it is even possible to take a landing path from the age of 55. Since 2021, this option has become increasingly popular.
Equalization of periods at a runway
An important advantage of the landing strip is that the periods in which you work less still count towards your pension. “Anyone who opts for a landing strip and, for example, starts working part-time, builds up pension rights as if he or she continues to work full-time. This also applies to landing strips that start at the age of 55, although the equation is then slightly less advantageous,” says Maes.
In the public sector, federal civil servants can also apply for a landing path from the age of 55. However, this does not apply to Flemish civil servants. A question of keeping it simple. In federal government services, employees can start working half-time or four-fifths of the time from the age of 55 with an RVA benefit, whereby that period is considered equal for their pension.
Working part-time without RVA benefits
Please note that there is a difference between working part-time within a landing strip and just working part-time. Employees who work part-time without RVA benefits only build up part-time pension rights. This means that the hours they do not work do not count towards their pension calculation. Clear?
(Photomontage: Pixabay)
