The Ministry of Social Security confirmed on Friday that pensions will increase from 1 January 2023.
For those in receipt of pensions, there's good news to start the year. State pensions will increase by 2.2% in Luxembourg from 1 January 2023.
The announcement was made by the Ministry of Social Security, which believes that this increase is warranted based on calculations by the General Inspectorate of Social Security (IGSS).
"The government reviews whether it is necessary to proceed with the revaluation of current pensions every year, based on an analysis conducted by the IGSS," the Ministry explains in a statement sent to the press.
According to the IGSS calculations, the pension adjustment factor was 1.553. This will result in a 2.2% increase in pensions on 1 January.
For a person receiving the minimum pension, which is currently €1,985.56 gross per month, the amount will therefore increase to €2,029.24 on 1 January 2023.
Good to know: this increase will be in addition to any future wage indexations, which, of course, also apply to pensions.