The papy-boom has started. What now?

While the rest of Europe awakens to put order into their public finances and to prepare the pension shock, Belgium goes back to bed with its institutional problems. But the problem needs to be addressed now. With half a million pensioners more within the next 10 years the pension crisis has become acute. Moreover, the legal pensions are too low and their financing too uncertain. All the productivity gains of the past years have already been used. According to Jean Hindriks and Isabelle Martin, the real solution consists of creating more jobs and have people working longer, not only in theory but in practice. This is a collective responsibility as we will need to create more than a hundred new jobs every day in order to maintain a balanced pension budget. Together we can manage this challenge. We need a treaty between generations and the social partners.