The Law of 20 July 2012 which modifies the Law of 28 December 2011 concerning the pension of employees and concerning new transitional measures for early retirement of employees introduces new transitional measures for early retirement (Wet tot wijziging van de wet van 28 december 2011 houdende diverse bepalingen, wat betreft het pensioen van de werknemers en houdende nieuwe overgangsmaatregelen inzake het vervroegd rustpensioen van de werknemers/Loi modifiant la loi du 28 décembre 2011 portant des dispositions diverses, en ce qui concerne la pension des travailleurs salariés et portant de nouvelles mesures transitoires en matière de pension de retraite anticipée des travailleurs salariés).
As from 2013, the age to benefit from early retirement will gradually be raised, so that in 2016 the minimum retirement age will be 62. The duration of the typical career will be gradually extended as well. As a result, in 2016 a career of 40 years will be necessary to retire early. For long careers, it will be possible to retire before the age of 62.
In 2012 the minimum age will be 60 years and the minimum career will be 35 years. In 2013 the minimum age will be 60,5 years and the minimum career will be 38 years. In 2014 the minimum age will be 61 years and the minimum career will be 39 years. In 2015 the minimum age will be 61,5 years and the minimum career will be 40 years and in 2016 the minimum age will be 62 years and the minimum career will be 40 years. It will be possible to retire at the age of 60 if the retiree had a long career (40 years in 2013 and 2014, 41 years in 2015 and 42 years in 2016) or at 61 years if this follows a career of 41 years in 2016.
These strict conditions will apply to all pensions that take effect as from 1 January 2013. However, some transitional measures will be applied to ensure that the employees who are eligible for early retirement on 31 December 2012 will keep their entitlements under the new rules, notwithstanding the actual date on which they will take up their early retirement.
The Law of 20 July 2012 also foresees that the King can take additional transitional measures for the benefit of:
- employees whose notice period started before 1 January 2012 and ended (or should have ended) after 31 December 2012;
- employees who, outside the framework of "conventional bridge pension", concluded before 28 November 2011 an agreement with their employer regarding early retirement on the age of 60 provided they had a career of 35 years at that moment;
- employees who applied for early retirement before 28 November 2011.
It is expected that these categories will keep their rights to early retirement but this should be specified by Royal Decree.
To determine the career, equivalent periods (time credit, unemployment) will also count. However, as from 2012 some equivalent periods will be less beneficial in comparison to periods of employment.
The envisaged periods are:
- unemployment as from the third period (this must be defined by Royal Decree);
- period of unemployment with company contributions before the age of 60 (with some exceptions);
- period of time credit at the end of the career taken up before the age of 60;
- period of time credit at the end of the career taken up after the age of 60, with the exception of 2 years half time time credit and 5 years 1/5 time credit;
- the period of full time or partial voluntary time credit and career break, outside the framework of the reasoned time credit or thematic leave.
The less favourable treatment of these equivalent periods will not apply to:
- individuals dismissed before 28 November 2012 under the specific regime of unemployment with company fundings (werkloosheid met bedrijfstoeslag/chômage avec complément d'entreprise);
- individuals already in the system of unemployment with company contributions, the period of full time or partial voluntary time credit and career break, half time or 1/5 time credit for employees aged 50 or older on 28 November 2011;
- individuals who requested a career break or time credit before 28 November 2011, who filed their request before 2 March 2012 and whose career break or time credit started before 3 April 2012.
