BELGIUM - Creating a robust cross-border pension market is a priority for the Belgian government, the Belgian Pensions Regulator (BPR) has said.
Becquaert said cross-border schemes need flexible structures and low taxation to be attractive, which the Belgian government had implemented. Groupacier and Pfizer Pension Fund have set up cross-border pension schemes based in Belgium.
"The legal framework of pension funds in Belgium allows a sponsor to adapt the organisation and structure of a cross-border scheme to its own individual business situation," he said.
"When combined with an extremely favourable taxation regime, Belgium can boast of ideal and unique characteristics for hosting cross-border schemes."
Paul Kelly, principal, Towers Perrin, added: "Cross-border pensions allow multinationals a better overview of their pensions commitments, and allow them to calculate the risks as a whole."
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