When making a significant financial investment (property, car, etc.) people often ask themselves this question: will I have paid back my loan by the time I retire? A question which is often followed by: and when in fact will I be able to take my statutory retirement under the arrangements in Luxembourg?

There are several possibilities in Luxembourg:

From the age of 57, if you have worked and actually paid pension contributions for 40 years,

From the age of 60 if you have a qualifying period of 40 years – including periods treated as qualifying (e.g. parental leave, retrospective purchase, studies between the ages of 18 and 27, baby-years, military service, etc.),

From the age of 65 if you have a qualifying period of 10 years – including periods treated as qualifying years. The legal retirement age in Luxembourg is 65,

If you are close to retirement, did you know that you can contact the Caisse Nationale d’Assurance Pension (www.cnap.lu) to request a certificate of entitlement in respect of your anticipated old-age pension. This certificate will advise you of the first possible date you can take (early) statutory retirement under the arrangements in Luxembourg.

If you have any queries and/or if you want to make sure that your transition to retirement will take place smoothly please contact your financial adviser.

Think about it!

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