The increase in Belgium’s legal pension age to 66 has led to 22,000 fewer retirements in the first five months of this year compared to the same period in 2024, resulting in €100 million less spent on pensions.
At the start of this year, the legal pension age was raised from 65 to 66 following a decision made by the Michel government in 2014. A further increase to 67 is planned for 2030.
The last Belgians eligible to retire at the age of 65 were those who turned 65 in December 2024, allowing them to retire on 1 January 2025. Those who turned 65 in January 2025 will have to wait until February 2026 to retire when they turn 66.
Data from the Federal Pensions Service clearly shows the impact of this change. “From February, when the new rule took effect, to April, 60 per cent fewer people retired compared to the same period in 2024,” spokesperson Vik Beullens said.
In total, the first five months of this year saw around 22,000 fewer retirements. “Assuming an average monthly pension of €1,850, this resulted in cumulative savings of €100 million between February and May,” Beullens added.
