Demonstration ledger, 2016-2026
Guaranteed interest is tracked by contribution generation: reserves built from 2016-2024 contributions earn 1.75%; contributions from 1 January 2025 earn 2.50% (WAP Art. 24 as amended by the Law of 18 December 2015).
| Year | Pensionable payroll | Contributions due (8%) | Contributions paid | Fees (0.5%) | Interest credited | Interest required | Benefits paid | Closing reserve |
|---|
Conformity findings
Guaranteed rate by contribution generation
What this demonstrates
The two seeded discrepancies mirror the errors that actually occur in insured Belgian plans: a contribution remittance computed on a stale payroll basis, and post-2025 contribution generations still credited at the old 1.75% floor after the statutory minimum moved to 2.50%.
What this module does not test. The guaranteed interest tracked here is the WAP article 24 control. That control is a defined contribution mechanism, and in a defined benefit plan it reaches the personal contributions rather than the plan as a whole. The test that governs a Belgian DB plan’s solvency is the minimum financing requirement, computed on vested rights discounted at 6 per cent on the MR/FR tables. That is a valuation-side test rather than a ledger-side one, it is performed in the engagement against the règlement d’assurance de groupe and the insurer’s reserve statements, and it is set out on the Belgian Regulatory Checklist.
In the engagement, the same checks run against the insurer's actual annual statements, the Embassy's payment records, and the plan rules, with every exception quantified, aged, and paired with a remedy, exactly as the Survey Report guidelines require.
Investment performance (Task d) extends this ledger view: credited returns and profit sharing are compared against market benchmarks for the same periods to assess whether asset growth is in line with market experience.