Collective bargaining agreements ("CBAs") were concluded on 5 August 2010 within Joint Committees Nos. 207 and 116, under which your company falls.

The new CBAs provide for a sector-level supplementary pension scheme. In practice, any company that falls under Joint Committees Nos. 207 and 116 must participate in the funding of this sector-level plan, unless the company can prove that on 1 January 2011, its employees will benefit from an equivalent or more favourable internal (i.e., company-level) pension scheme.

In other words, if your company does not offer a supplementary pension scheme, you must affiliate your employees to the sector-level scheme as from 1 January 2011.

On the other hand, if your company already has a supplementary pension scheme, you do not need to take into account the new CBAs if your internal scheme is deemed equivalent to or more favourable than the sector-level plan. However, we would like to draw your attention to the fact that if you wish to remain outside the scope of the new CBAs, you must notify your plan to the Fonds de sécurité d'existence/Fonds voor bestaanszekerheid before 1 November 2010, in accordance with a special procedure. There is thus no automatic exemption.

We recommend checking with the responsible individuals within your company to ensure compliance with the applicable notification formalities, if any.