Transitioning smoothly into retirement

As you reach or start nearing retirement, you'll surely have lots of questions about the different procedures for collecting your state pension, claiming your supplementary pension benefits, continuing your corporate-sponsored hospital plan on an individual basis, reinvesting your group insurance proceeds, etc.

Read on and we'll walk you through the different steps you'll need to take when the time comes for you to retire.
Step 1: Claiming your state pension
Moving on to a pension without false notes
Your statutory retirement date is the trigger for the steps in the process.

​​​​​​​When will you be eligible for statutory retirement?

Statutory retirement age in Belgium is currently 65 (with the exception of certain occupations subject to other rules). Your official retirement date is set on the first of the month following the day you turn 65. In other words, if your birthday is in February, you'll be able to retire on 1 March. The federal government has, however, recently decided to raise the retirement age to 66 as of 2025 and 67 as of 2030.

You can apply for early statutory retirement if you fulfil certain minimum age and years of service requirements.    

​Minimum age and years of service required for your desired early retirement date
​​60 years old and 44 years of service
​61 years old and 43 years of service
62 years old and 42 years of service​


Winding down your career

Retirement doesn't have to be an abrupt change from a full-time job to a life of leisure. Some people, for example, switch to part-time employment or take a career break. While these alternative paths into retirement are very popular, they do come with certain consequences for your statutory and complementary pension entitlements.



​How to claim your state pension?


  • If you retire at the age of 65:
    You don't need to do anything. The Federal Pensions Service (FPS) will take all the necessary steps for you. 
  • If you retire before or after the age of 65:
    The only exception is if you wish to draw on your state pension before or after statutory retirement age. As long as you fulfil the age and qualifying years of service requirements, you may file your request to claim your benefits at your local town hall, directly from the NPOFPS or online at, up to one year before your chosen retirement date.


Not ready to quit working?

Just because you've reached statutory retirement age doesn't mean that you have to (completely) stop working. Maybe you'd rather keep on working? Over the past few years, the government has put incentives in place to keep people on the job beyond statutory retirement age:

  • If you are 65 years old or have 45 years of service under your belt, you may continue to work as much as you want without affecting your pension entitlements.
  • If you are under 65 or have less than 45 years of service, you may continue in paid employment after you retire. However, the income you earn from this activity must remain below certain maximum caps
    • These maximum caps have been set based on various criteria such as your age and years of qualifying service as well as marital/family status, job profile, etc.
    • If your earnings are above these upper limits, your state pension for that calendar year will be reduced proportionally or even suspended if the earnings are more than 100% above the limits. For example, if you as a retiree earn 20% above the limit, you'll have to pay 20% of your state pension back to the federal government the following year.

To find out more about working after retirement, go to the Federal Pensions Service’s website.

Step 2: Collecting your supplementary pension benefits


When can you claim your group insurance proceeds?

As payment of your supplementary pension benefits is linked to your state pension, you collect your supplementary pension when you retire, i.e. on your statutory (early) retirement date.

In some cases, you'll be allowed to draw on your group insurance proceeds earlier. To find out whether you qualify in your specific situation, it's best to check with your employer directly.


What steps do you need to take to collect your group insurance proceeds?

The FPS will notify us of your retirement date. Once we have this information, we can start the different formalities to release your group insurance entitlements to you.

In the video here below, you will discover the different steps. Please note: MyAG Employee Benefits ( replaces 'My Global Benefits'. The new name has not yet been updated in all videos, for which we apologise.​

Vimeo settings

Youtube settings

1. You have had contact with the FPS to confirm your retirement date  →

2. The FPS will notify AG of your retirement date  →

3. AG will send you a letter outlining the practical details for collecting your entitlements  →

4. Payment of your group insurance proceeds  →

​5. The following c​alendar year, AG will send you a tax statement  →


Questions? Concerns?

We understand that this information can be complicated. If you have any questions, feel free to contact us via our contact form (top and bottom of this page). We will get back to you as soon as we can.

Couple requests the payment of their supplementary pension benefits via My Global Benefits
You collect your supplementary pension benefits when you take your state pension.
Step 3: Continuing your hospitalisation coverage
Continue the cover of your hospitalisation insurance after your retirement
You always have the option to continue your corporate hospital plan on an individual basis.

Your corporate-sponsored coverage

When you retire, you'll not only be foregoing a monthly salary. It may also mean the end of your corporate-sponsored hospital plan, as many employees also have additional insurance coverage through their employer. But we can reassure you right away that you won't be left without a safety net. The legislation gives you the right to continue your corporate plan on an individual basis with at least the same covers.


How to take out continuation coverage on an individual basis?

Your employer will inform you of the option to sign up for individual continuation coverage within 30 days of losing your corporate plan. You will then have another 30 days to apply for individual coverage. Make sure you apply by the deadline in order to keep the same covers.

If your previous corporate-sponsored hospital plan was with AG Employee Benefits, you apply for continuation coverage by contacting or by filling out this application form.

Do you require a certificate of insurance? You can easily request it through the MyAG Employee Benefits platform or app. For additional details, please refer to this 'How to'.​​

Step 4: Reinvesting your group insurance proceeds


Retirement marks the beginning of a new chapter in your life. On the downside, you lose the security of a monthly salary. While there's always your state pension to fall back on, it's generally not enough to maintain your pre-retirement lifestyle. If your employer has had the foresight to take out a group insurance plan for you, you can cash in on this extra nest egg when you retire.

Before you retire, figure out for yourself how much you'll need to retire without worry. Once you've monetised all these factors, you'll have a ballpark figure of how much you'll need to live the rest of your days in comfort. You may decide that you don't need to use any or just a small portion of your group insurance proceeds to achieve your retirement goals. If this is the case, reinvestment may be a good option for you.


Reinvesting your group insurance proceeds

Once they retire, many people opt to reinvest some or all of their group insurance proceeds as an opportunity to further grow their nest egg.

If you want to go this route, there is a vast array of investment products to choose from. For example, investment funds are very popular and often a wise choice. At AG, we offer all kinds of possibilities, depending on your investor profile. Some of the best known vehicles are Branch 21 and Branch 23 insurance products.

  • The main benefit of a Branch 21 fund is the security of a guaranteed return. Profit sharing may be awarded as well, but this is optional depending on the results achieved by the insurer. Branch 21 is therefore a safe haven option if you are rather risk averse when it comes to investing your retirement nest egg.
  • If you are willing to take on more risk, you may want to consider a Branch 23 insurance product, where your premiums and capital are invested in one or more funds with varying degrees of risk. It's up to you to decide how and where you want your premiums invested according to your risk appetite. The return on your invested capital will depend on fund performance.
    In exchange for the higher risk associated with a Branch 23 investment and the fact that there is no guaranteed return, you get the potential for a greater return on investment than with Branch 21.


If you were enrolled in a group insurance plan with AG Employee Benefits, you can use the services of AG Ascento, AG Employee Benefits' end-of-career solutions provider, to reinvest your retirement benefits.

AG Ascento has come up with three solutions with varying investment horizons to further grow your supplementary pension nest egg.


Want to find out more? The AG Ascento team is standing by to provide you with individually-tailored reinvestment recommendations. 

Family is happy with the reinvestment of their supplementary pension benefits
Ascento products offer solutions to suit your needs and your investor profile.