Luxembourg: two pension reform bills submitted to parliament

After lengthy negotiations with the social partners, in mid-October the Luxembourg government submitted two bills to parliament aimed at reforming the pension system to ensure its long-term viability while maintaining the legal retirement age at 65. Under the first bill, the contribution rate to pension schemes would increase from 24% to 25.5% from 1 January 2026 until 2032. The insurance period required for early retirement at age 60 would gradually increase from 480 to 488 months by 2030,...