Recent data from the Organisation for Economic Co-operation and Development (OECD) reveals that Luxembourg has a lower proportion of elderly individuals in the workforce compared to other EU countries.

According to the OECD's "Pensions at a Glance" study, no other EU nation has a lower participation rate of older workers than Luxembourg.

The study highlights that the statutory retirement age in Luxembourg is set at 62, representing the average between early retirement and the standard retirement age of 65. The OECD calculations show that men retire approximately one and a half years earlier, while women retire 3.6 years ahead of the statutory age.

In contrast, the EU as a whole demonstrates a higher average retirement age, with men retiring at 62.6 years and women at 62.3 years. The data underscores that merely 6.6% of individuals aged 65 to 69 are still engaged in the workforce in Luxembourg. Additionally, the percentage drops to 46.6% for individuals aged 55 to 64. Comparative figures in Germany illustrate a notably higher rate of older individuals remaining in the workforce.

The study also sheds light on post-retirement life expectancy, revealing that men in Luxembourg can expect to live over 22 years beyond retirement, a trend mirrored in Belgium and France. Meanwhile, women in Luxembourg enjoy an even lengthier post-retirement period, with nearly 28 years ahead of them upon retirement.