Around 859,000 individuals were insured by Luxembourg's social security system, with around a third of that number (35%) not residing in the Grand Duchy.
The number of claimants registered to Luxembourg's social security system exceeds the actual population of the Grand Duchy, mainly as non-residents are entitled to pay into the system. These non-residents (broadly cross-border workers) pay into the Grand Duchy's security system and naturally benefit from the system as well.
The General Inspectorate of Social Security (IGSS) published its 2019 report earlier this week, revealing a positive balance of €284 million, calculated from an annual revenue of €13.7 billion and spending of €13.4 billion. The balance corresponds to 0.5% of Luxembourg's GDP.
Revenue only rose marginally due to the pension's fund's weak performance, attributed to low interest rates and an internationally-weak shares market.