What pensions Luxembourgers get?

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What pensions Luxembourgers get?

The question of retirement sooner or later worries everyone. In the face of the recent pension reform in France, causing social worries, everything is peaceful in Luxembourg.

In 2020, the overall number of pension allowances was 194,441 per month. That was 3.7% more than in 2019 and 27% more than in 2013. Simultaneously, the pension fund's wealth was also expanding.

By the end of 2020, it contained 24 billion euros. At that time, it stood at 4.8 times the annual benefit amount for all recipients, and more than 3 times the required minimum.

The pension system covers 90% of the working class. Not only people who live and work in Luxembourg but also cross-border workers can claim it.

The minimum pension is granted after 20 years of employment. The full pension is available after 40 years of service and after reaching the age of 65. It amounts to 1968 euros per month. However, for each missing year, the maximum amount is reduced by 1/40.

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