As usual, the chemicals sector (CP 207) has opened Belgium’s sectoral collective agreement signing season. On June 08 the social partners agreed on a protocol and on June 16 the union bodies all signed an agreement that runs for the 2015-2016 period and affects some 100,000 in the country. The unions succeeded in securing the maximum wage cost margin but the most signification addition to the new agreement is the introduction of a demographic fund geared to financing company policies that cater for lengthening careers.
A unique kind of fund. The chemicals sector is the first to experiment with a fund that aims to finance policies geared towards older workers. Recent government reforms have lengthened retirement contribution periods and the social partners have decided to set up a fund to cater for difficulties that may arise for some workers having to work for longer. From 2016 employees will contribute 0.15% of their pre-tax salary to the fund that will have about 8 million € annually. Anita Van Hoof, Federa
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