The Belgium Financial Services and Markets Authority (FSMA) has published an update to its report on costs in second and third pillar pension products, showing that costs charged by financial institutions have generally remained stable. The cost reporting is being used to identify insurance-based pension products with the highest charges. With legislation and regulation requiring insurers to offer products that provide consumers with sufficient “value for money”, the FSMA has started examining the practices of insurance companies offering the most expensive pension products, noting that high costs can significantly reduce returns. The updated report is available in French and Dutch.
Belgium Financial Services and Markets Authority 2025-01-20
Belgium Financial Services and Markets Authority updates second and third pillar pension cost report and reviews highest-cost insurance products
The Belgium Financial Services and Markets Authority (FSMA) updated its report on costs in second and third pillar pension products, indicating stable charges by financial institutions. The FSMA is scrutinizing insurance companies with the highest-cost pension products to ensure compliance with "value for money" regulations, as high costs can notably diminish returns.