Pension Benefits Scan

Pension estimates and broader end-of-career planning for employees

Legal pension legislation has undergone several reforms in Belgium and other countries. At the same time, there is growing awareness around the importance of adequate end-of-career planning. This has led to employees of all ages paying closer attention to their pension entitlements.

As employees gradually reach pension age, they seek an overview of their build-up over their entire career, as well as further guidance on essential retirement decisions. In addition, most employees want to assess how a switch of social security regime during their career will impact their future pension entitlements. Employees with an international career in particular would need several clarifications regarding their current and future pension entitlements.

How can we help?

Through its Pension Benefits Scan solution, Deloitte is readily available to advise clients with the above issues, including estimates of:

Belgian and/or foreign legal pension

An employee has worked in Belgium, France, the US and Singapore and wants to have an estimate of the legal pension benefits he will receive from those countries, including his voluntary pension benefit under the Belgian Overseas Social Security scheme during his assignment in Singapore.

Pension benefits differentials

An employee, who will be transferred from France to Germany, wants to know his pension loss following the switch from the French to the German social security scheme.

Voluntary contributions

An employee of a Belgian company subject to Belgian social security for employees (RSZ/ONSS), will explore the Chinese market for the company. She will register with the Chinese social security scheme, but also with the Belgian Overseas Social Security scheme. Before she agrees on the other details of her assignment, she wants to be assured that her future Overseas Social Security benefits for that period will be equal to what she would have built up under the mandatory RSZ/ONSS scheme.

The team can advise given a minimum amount of information. All that is needed is the employee’s:

  • Nationality
  • Birth date
  • Marital status and children at charge
  • Gross yearly salary during the analysed period
  • Applicable social security scheme(s) during analysed period

To that end, the downloadable Career history template is used as a basis for further analysis.

Broader end-of-career services

The team is also readily available to assist with additional end-of-career questions, from both an employer and employee perspective.

  • Which benefits are built up under the company pension plan?
  • Is the company’s pension plan in line with the current legal framework?
  • When and where can one claim legal and occupational pension benefits after an international career (legal pension age, early retirement, calculation of benefits, etc.)?
  • Will the employee receive pension benefits regardless of country of residence?
  • What will be the tax and social security treatment of the employee’s legal and occupational benefits or deferred compensation?
  • What about inheritance tax and wealth tax upon retirement?
  • What are a pensioner’s entitlements to medical care?

For further information, please reach out to your usual contact, or get in touch with: