Pension reform, decoded for Finance.
The CFO brief on the second-pillar reform. The contribution math, the balance-sheet treatment, the fee mechanics, and the modelling questions to put to your existing provider before the next budget cycle.
Five things, five minutes after reading.
- 01The contribution and reserve math under the new regime, modelled against a typical Belgian team profile.
- 02Balance-sheet and tax treatment, with the items your auditor will flag.
- 03Hidden AUM and management fees, decoded line by line, with a side-by-side against Branch 21, 23 and an OFP structure.
- 04A list of questions to put to your current provider, with the answers that should make you pause.
- 05A modelling template you can run on your own headcount inside an afternoon.
6 chapters. One thread.
Designed to be read end to end in a single sitting. The audit, math and templates cluster toward the back.
- 01What changed, on the P&L
Contribution treatment, reserve recognition, and the line items that move under the new regime.
- 02The fee stack, decoded
AUM, management, performance and exit fees. Where they sit, how they compound, and how to spot them on a quote.
- 03Branch 21 vs Branch 23 vs OFP
Three structures, modelled side by side over a full career. The result is not what the brochure shows.
- 04Tax treatment
Corporate deductibility going in, the 16.5% coming out, and the special-contribution edge cases.
- 05Modelling your own team
A spreadsheet you can run on your real headcount, salary distribution and contribution policy.
- 06Questions for your provider
The fifteen questions a CFO should put to an existing insurer or broker, and what to do with the answers.