ABSTRACT
This chapter highlights the failures of Bismarckian and Beveridgean social security systems and to contribute to the debate on the future of old-age protection for the self-employed. It deals with the most important obstacles to the design of an adequate social security system for the self-employed and discusses the Belgian old-age pension regime. The chapter considers the issues of adequacy, viability and legitimacy of the pension regime for the self-employed and also considers policy reforms. The Belgian social security system is largely inspired by the Bismarckian model but the pension system for the self-employed has the characteristics of a Beveridgean system. In contrast to the old-age pension system for employees, which most observers in Belgium assume will be able to cope with the ageing cost, the Beveridge-like pension scheme for the self-employed faces tremendous problems in terms of legitimacy, adequacy and financial viability.
