2024-01-22 13:04:35
Six out of 10 Belgians still believe they are insufficiently informed regarding the pension mechanism, reports the sixth observatory on “Belgians and their pensions” commissioned by the bancassurance company CBC and carried out by Ipsos among 1,086 Belgians aged 18 to 75. Less than a third of respondents also indicate that they prepare their pension to maintain the standard of living they want once retired.
According to this sixth edition of the pensions observatory, published Monday, 21% of respondents considered themselves well informed regarding the pension mechanism in 2019 compared to 39% in 2023. “However, this was one of the major objectives of the minister of Pensions Karine Lalieux: that a majority of Belgians are better informed”, recalled Patrick Wangneur, advisor in asset structuring and pension provision at CBC Banque. “It must be recognized that the mypension portal has made it possible to better inform citizens, but this has not yet percolated among the population.”
The legal pension is still considered the main source of income once retirement has come, while 38% rely mainly on pension savings (compared to 45% in 2022). “However, this was one of the challenges of Ms. Lalieux’s legislature. However, no measures have been taken regarding the supplementary pension. Citizens’ reserves are today too low to significantly change the standard of living” , commented Patrick Wangneur. Only 36% of respondents believe that their accumulated capital will be sufficient to supplement their legal pension.
According to Pierre Devolder, professor of finance at UCLouvain, these results confirm the need to strengthen the first two pillars of our pension system. “We must make the second pillar, i.e. group insurance or supplementary pensions, compulsory. In the government declaration from Vivaldi, there is however a point on the obligation of a second pillar with a rate of 3%”, he pleaded.
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