What happens to your corporate-sponsored insurance?
When you retire, you'll not only be foregoing a monthly salary. Retirement often marks the end of certain employer-related benefits - including hospitalisation insurance. The good news? 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 the same, if not better, covers.
How to continue your corporate-sponsored hospitalisation coverage?
Your employer will inform you of the option to sign up for individual continuation coverage within 30 days of losing your corporate plan. You’ll then have another 30 days to apply for individual coverage with your insurer. Make sure you apply by the deadline in order to keep the same covers.
FYI: No medical exams or health questionnaires are required as long as you respect these deadlines.
If your previous corporate-sponsored hospital plan was with AG Employee Benefits, you can apply for continuation coverage by contacting continuation@aginsurance.be or by filling out this form.
Need a Certificate of Insurance?
Just because you've reached statutory retirement age doesn't mean you have to (completely) stop your professional activities. Maybe you'd rather keep on working? In the past few years, the federal government has put incentives in place to keep people on the job beyond statutory retirement age:
- If you’re 66 years old or have completed 45 years of service, you may continue to work as much as you want without affecting your pension entitlements.
- If you’re under the age of 66 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 criteria such as your age and years of qualifying service as well as marital/family status, job profile, etc.
- If you earn more than these upper limits, your statutory 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 earn 20% above the limit, you'll have to pay 20% of your statutory pension back to the federal government the following year.
To find out more about working after retirement, go to the Federal Pensions Service website.
Need a Certificate of Insurance? You can easily request it on the MyAG Employee Benefits platform or via the app. More information is available in this "Practical Guide".