Finance minister Alexander De Croo (Open Vld) wants to make it obligatory for employees to join a collective insurance to increase pensions. Mr De Croo wants pensions to increase to around 1,500 euros a month, he told the Het Nieuwsblad on Saturday.
One worker in three does not currently have collective insurance, which Open Vld wants to change. “We want to make it obligatory for everyone eventually”, Mr De Croo said. “This way, we will have a good mix between the legal pension system and complementary pensions”, he added.
“More and more people have collective insurance, but contributions are too low, often around 0.5%. Many employees realise they will only have a few thousand euros when they get to the end of their career. That doesn’t get you very far. Contributions need to go up to at least 3%”, the minister said.