According to a new report by STATEC, Luxembourg's national statistical office, a retired couple needs at least €3,471/month to live comfortably.
These results come from the new reference budget calculated by STATEC for people aged 65 and over, who are retired, independent and in good health. This "minimum" budget not only makes it possible to meet the basic needs of life, such as food, hygiene and clothing, but also to age according to the principles of active ageing.
During the year 2022, STATEC has developed, together with experts from the sectors concerned as well as with the help of six discussion groups, a minimum monthly budget for people aged 65 and over, who are retired, fully independent, in good health and tenants of an apartment. The reference budget is €2,551 for a "senior" individual and €3,471 per month for a "senior" couple.
The "reference" budget follows a European methodology and includes all the essential needs of residents of Luxembourg. It comes in a dozen baskets containing the items and services necessary to meet the specific needs of "seniors".
This budget makes it possible on the one hand to meet the essential needs of seniors, such as healthy food or adequate hygiene, and on the other to be able to participate actively in society. For seniors, special attention has been placed on the possibility of being able to age actively and continue to participate fully in life in society to avoid social isolation. Many scientific studies actually point to the benefits of an active life for the physical and mental well-being of the elderly.
This is how the food and social life baskets take on a considerable weight in the reference budget of the senior couple with a monthly budget of €500 and €579 respectively. The food basket aims for a healthy diet and takes into account the particularities of the elderly, in particular an energy requirement which decreases with age. The social life basket is designed to allow participation in physical, cultural and lifelong learning activities. It also includes a catering budget and a holiday budget.
With €47 per month for the couple, the "health basket" is more modest, since the starting assumption is that people are in good health. The basket takes into account common illnesses (flu, colds, etc.) as well as health concerns related to aging, such as joint, tooth or sight problems. In comparison with adults active in the labour market (45 years old), the reference budget of the senior couple is €434 higher.
All the results of the study can be found in the report “The reference budget for independent and healthy elderly people”. A summary of the study was produced in ten thematic "basket" sheets to find the important elements and figures.
