According to Schneider, some 98,470 people receive an old-age pension in Luxembourg under the CNAP system. People are eligible for the full Luxembourg pension after working the equivalent of 480 months or 40 years in the country during which time they paid contributions. Beneficiaries of the full pension totalled 35,050 people. Half of this group received a monthly pension of up to €3,831.26, while three quarters received monthly pensions of €4,766.43 or less.
Monthly pension payments cannot exceed €8,525.50, or fall below €1,841.51, Schneider explained.
The remaining 63,420 beneficiaries received a partial pension. In this group, 56,964 pensioners were also receiving pension payments from another system having worked in one or more other countries. The Luxembourg part of their pension was on average €1,244.59. Half of this group received €746.90 per month or less in pension payments.