New condition for tax deductibility of pension contributions
Section 62 of the Program Law of 22 June 2012 has introduced a new condition for the tax deductibility of contributions paid into an occupational pension plan (by amending sections 59 §1 and 60 of the Belgian Income Tax Code). As from 1st January 2013, pension contributions will only be deductible if the so-called “Sigedis-obligations”
Instructions for the special contribution on high pension contributions (the so-called ‘Wijninckx-bijdrage’) now available
Instructions for the special contribution on high pension contributions (the so-called ‘Wijninckx-bijdrage’) now available If the total of the contribution into occupational pension plans for one person exceeds EUR 30,000 in 2012, then the company needs to pay a special contribution of 1.5% on the excess amount. This charge is due both for employees and
Statutory pension bonus – eliminating uncertainty
The Belgian federal government introduced a financial incentive in 2007 (following on from the 2005 Generation Pact) for people in the private sector to work longer: the so-called “pension bonus”. This was a temporary measure. Its continued existence was to depend in part on whether it generated the desired effect – i.e. an increase in
Update – Program Act published in the Official Gazette
On 21 June 2012, we sent an HRS headline relating to the impact of the new Program Act on occupational pension schemes. A copy of the headline is included in this message. The Act has now been published in the Official Gazette of today. Special social security contribution As from 1 January 2012, the
Special social security contribution
As from 1 January 2012, the draft Finance Act (whose text has now been sent to the Senate) introduces a special social security contribution on premiums and contributions paid to occupational pension schemes. This special contribution amounts to 1.5% on the amount of premiums/contributions exceeding a threshold of EUR 30,000.00 per annum (amount to be
Compromise new provisions for pensions on the balance-sheet
As announced by the Government Agreement, pension commitments financed by provisions on the balance-sheet of companies would no longer be authorised. The management of these pension commitments should be outsourced to a pension institution (insurer or pension fund). As a reminder, there was up to now no obligation to outsource pension commitments set up for
