On the basis of the Act on Supplementary Pension Schemes (hereafter ‘SPSA’), employers are obliged to guarantee a certain return on supplementary pension schemes when the employee retires or exits the scheme (i.e. 3,75% on the employee’s contributions to all pension plans and 3,25% on the employer’s contributions to defined contribution plans and cash balance plans). In the past, the employer was always able to insure himself against this risk (the same or higher percentages were granted by the insurance companies). However, as a consequence of the financial crisis, it became impossible for insurance companies to ensure these statutory minimum return percentages on new supplementary pension schemes, as well as on new payments to existing plans. Therefore, the employers risked not to be able to comply with their guarantee obligation on the basis of the SPSA. The Employers’ and Employees’ representative organisations recently agreed that the fixed minimum return percentages of 3,75% and 3,25% will be made variable, linked to the return in average of the Belgian 10-year linear bonds over 24 months, and with a minimum return of 1,75 % and a maximum return of 3,75%. This agreement will now be converted into Law, which is expected to enter into force on 1 January 2016.