With unions warning of burdens on youth and workers, and parties defending divergent fixes, the debate over Luxembourg's pensions is set to intensify this autumn.
From gender pay to indexation to retirement age, dialogues on pension reform are set to continue on 3 September. Ahead of the discussion, RTL Today speaks to all seven parliamentary parties to see where they stand.
Following Prime Minister Frieden's call for raising the retirement age in May and a record-breaking protest against pension reforms in June, party representatives and union leaders have expressed disdain for what they say will burden today's youth and weaken worker protection. At the same time, others have highlighted core issues that primarily affect women: a remarkably high pension pay gap.
In this part of the deep dive, we discuss raising the retirement age, pension indexation, and a projected deficit. In part two we're covering the pension gender gap.
Read also: 15 key questions about Luxembourg's pension reform answered
What are the party's thoughts on changing the legal retirement age?
Background: Officially, Luxembourg's retirement age is set at 65 though in practice, most people retire at 60 or 61. Luc Frieden recently announced that the government intends to extend working years, sparking widespread debate and arguments.
What solutions or suggestions does the party have to address the projected deficit?
Background: Luxembourg's pension system is projected to run into deficit as early as 2026.
What is the party's stance on pension indexation in Luxembourg?
Background: While pension indexation allows funds to be calculated against cost of living and inflation, it can also benefit wealthier individuals with larger pensions and longer lifespans, compared to those with lower pensions and shorter lifespans.
