Pensions in Luxembourg will not become smaller, but the system will not survive in its current form either

In an interview with L'Essentiel, Social Protection Minister Martine Deprez explained how the government is preparing for the reform of the pension system. According to her, the first stage was to study data from the Social Security Inspectorate and the Economic and Social Council. Then the consultation phase began, during which many ideas have already been received. The main goal is to guarantee the sustainability of the system for decades to come.

Deprez recognises that pension reform is always a sensitive topic. People realise that changes are necessary and are willing to work longer, but they want to decide for themselves when they retire. She believes that the dialogue with the unions will be constructive because all parties agree that the pension system should be preserved.

Although the unions say that pension reserves are high, the Minister warns: you can't just think about the next five years - the system has to work over a 40-year horizon. If nothing changes, the reserves will be depleted quickly.

At the same time, she clearly outlined the "red line" of the reform - the size of current pensions will remain unchanged.

When asked when she herself planned to retire, Deprez said she had worked as a teacher and member of the Council of State before being appointed minister, her mandate ending in 2029, but she planned to continue teaching until she was 65 and gradually reduce her workload. For now, those plans remain unchanged.

While Deprez remains not the most public of politicians, her decisions in the coming months will be key to the future of Luxembourg's pension system.