The legal retirement age increase to 66 years starting February 1, 2025, has become one of the most discussed topics among Belgian workers. This change means significant adjustments for those currently aged 65 and younger, as they will have to work one additional year before they can claim retirement benefits.
Yet, the public sentiment surrounding this transition is largely negative. A recent study by human resources group Securex revealed alarming figures: around 80% of Belgian employees claim they are not willing or able to work until 66. This statistic has remained stable between 2019 and 2022, indicating deep-rooted concerns among those approaching retirement.
Among the age group most immediately affected—workers aged 55 and over—70.3% believe they will not manage to work until this new retirement age. A marked improvement occurred from 2019 when 85.7% had similar doubts, evidencing some adaptation within the workforce. Factors contributing to this improvement include less physically demanding jobs and increased workplace flexibility, such as teleworking.
“The difference between employees aged 55 and over and the average employee shows how important it is to optimally inform all age groups about this change,” said Stephanie Heurterre, senior HR consultant at Securex. She emphasizes the need for employers to engage older workers actively, pointing out their sustained professional ambitions and potential contributions to the labor market.
Research indicates this reluctance to extend working years stems not just from age, but from wider labor market realities. Only 8.8% of workers are eager to work until 67, and just 10.5% are interested in working until 66, according to Securex's findings, highlighting the psychological barriers posed by increased retirement expectations.
Surprisingly, desire to work longer seems to vary significantly by education level. More than 49% of university graduates want to work until 65, compared to just 27.6% of those with lower secondary education. This disparity raises questions about societal support systems and workplace conditions conducive to longer working lives.
The increased retirement age aligns with broader governmental policies aimed at managing the financial ramifications of population aging. Joseph Michel's cabinet decided to incrementally raise the retirement age, initially setting the age limit at 66 by 2025 and then shifting it to 67 by 2030, effectively increasing the working years required for those born between 1960 and 1963 by one year. For those born after 1964, the impact is even greater, requiring two additional years of effort.
Florent Mages of the Federal Pension Service stated, “When the age is raised, we expect only about 80,000 new retirees instead of 160,000 in 2025.” This prediction indicates significant changes not only for individuals considering retirement but for overall census of pensioners across the nation.
Despite the regulatory motivations behind raising the retirement age, research from Securex reveals most Belgians feel mentally and physically unprepared for extending their careers. Only 17.4% of workers express confidence about continuing until 67, up slightly from 16.6% who felt this way three years prior. This underlines the mental toll the physical demands of work can impose, especially on older employees.
Marjan Maes, pension economist at KU Leuven, asserts, “We must not view pension measures in isolation. It must go hand-in-hand with encouraging labor mobility.” She stresses the need for organizations to adapt their human resources strategies to motivate older employees effectively, recognizing the necessity of elements like job satisfaction and flexibility to keep seasoned professionals engaged.
Romanticizing the notion of working longer is not realistic, she argues, as the average age of retirement remains alarmingly low between 61 and 62. The government’s decision to raise this benchmark aims to keep pension systems financially viable at a time when life expectancy continues to rise.
The pressures of financial sustainability place considerable responsibility on both workers and employers. Continual contributions from employees enable the pension system to remain viable, and as people live longer, the need to strike balance becomes even more urgent. Encouraging older workers to remain engaged, with adequate support systems, will prove pivotal as Belgium approaches its new retirement norms.
With the new retirement age less than two years away, all eyes are on how businesses will adapt. The challenge remains for the government, employers, and society at large to create environments where longer working lives are not only possible but desirable.
