Luxembourg's Ministry of Social Security has announced that pensions will increase by 2.2% as of 1 January 2023.
In accordance with the provisions of the social security code relating to pension insurance, the government examines every year whether it is necessary to proceed with the revaluation of current pensions, on the basis of an analysis carried out by the General Inspectorate of Social Security.
According to calculations by the IGSS, the readjustment factor for the year 2023 amounts to 1.553, which translates into an increase in pensions of 2.2%. This revaluation comes on top of the index brackets which also apply to pensions.
