The younger generation of Belgian workers lacks trust and knowledge of the country's pension system, according to a study conducted by pensions associations Assuralia and PensioPlus. In 2021, the survey questioned 1,800 workers under the age of 40.
The survey noted a lack of awareness as the major hold-up preventing younger respondents from committing to pensions. One in three survey respondents could not give an estimate of the amount they would need to put aside to maintain the same standard of living after retirement.
Young workers ranked their own awareness of prospective pension plans at 5.1 out of 10. They were even less aware of the details and conditions of supplementary pension plans offered by their employers.
PensioPlus indicated that these figures also showed a growing indifference among the country's younger workers towards retirement plans. It highlights that a government website provides extensive information on pensions and has been readily available to Belgians since 2010. Yet the survey revealed that only 20% of workers under the age of 40 had consulted the site in 2022.
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As Belgium prepares for a major reform of its pension system this year, Assuralia and PensioPlus have joined forces to tackle this chronic indifference and lack of awareness among Belgium's younger workers on their prospective pensions.
Their campaign involves a 30-second video featuring zombies, which both federations want to use as a way of soothing younger Belgians' fears over pensions. "The chances of zombies taking over the world are low. So go ahead and ask your employer for a supplementary pension plan," the video's voice-over urges.
