Human resource services – PwC » Urgent action may be required in the context of pension arrangements for self-employed company directors

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12Dec

Urgent action may be required in the context of pension arrangements for self-employed company directors

Currently, all pension commitments need to be externalised except those for self-employed company directors. According to the Government Agreement of 30 November 2011, pension commitments for self-employed company directors will soon also need to be externalised to an insurance company or a pension fund. Balance sheet provisions for pension arrangements will therefore no longer be allowed.

This is also the case for so-called keyman insurance policies (‘Bedrijfsleidersverzekeringen’/ ‘Assurances Dirigeants d’Entreprises’) as the beneficiary thereof is the company itself, which in turn transfers the payout subject to the 80% rule to the company director in the context of a pension promise. Externalisation intends to shield the beneficiaries of the accrued benefits from bankruptcy of the organising company. Read more

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Posted: December 12th, 2011