The Ageing Working Group (AWG) was established in December 1999 by the Economic Policy Committee of the European Council ECOFIN. This working group is responsible for producing common budgetary projections on age-related public expenditure items. Each Member State calculates its longterm pension expenditure based on common assumptions discussed in the AWG.
The demographic and macroeconomic assumptions in the public pension expenditure projection of Belgium for the AWG are different from those retained in the national projection of the Study Committee on Ageing, as well as the scope of pension definition. This projection is carried out using the MALTESE model of the Federal Planning Bureau.
This report presents the new Belgian pension projection 2016-2070 that will be published in the “2018 Ageing Report” next year. In addition, these results will be used in the context of the “Fiscal Sustainability Report” of the European Commission that assesses the mid-term and long-term fiscal situation of Member states.