ARTICLE
2 February 2023

Index Increase From 1 February 2023

AM
Arendt & Medernach

Contributor

About Arendt

Arendt combines the entire value chain of services dedicated to Asset Managers, Banks, Insurers, Public Institutions and Private Clients operating in Luxembourg.

-Legal & Tax
-Regulatory & Consulting
-Investor Services

Legal & Tax

We assist clients in structuring and running their business from a legal and tax standpoint across Luxembourg. Our teams directly serve international clients or work in close collaboration with foreign partner law firms.

Together with our regulatory consultants and investor services experts, we bridge the gap between legal/tax advice and its implementation. We deliver best-in-class services along our clients’ business life cycles.

The 450 legal experts of Arendt & Medernach have a wealth of experience in a wide variety of specialisations. Together, they are able to advise on a complete range of 15 complementary practice areas

With effect from 1 February 2023, the index applicable to employee wages increases from 877.01 to 898.93, resulting in a 2.5% increase in gross salary paid to individuals with employment contracts...
Luxembourg Employment and HR

With effect from 1 February 2023, the index applicable to employee wages increases from 877.01 to 898.93, resulting in a 2.5% increase in gross salary paid to individuals with employment contracts subject to Luxembourg law.

Wage indexation is an automatic mechanism to adjust salaries in line with evolving living costs, as determined by STATEC1. Salaries are automatically raised when the cost of living increases by at least 2.5%. The aim of this measure is to compensate for loss of purchasing power due to inflation by increasing salaries accordingly.

The final detailed results of the national consumer price index for January 2023 will be published on 10 February 2023.

From 1 February 2023, the gross minimum social wage is therefore increased by 2.5% as follows2:

1277950a.jpg

Footnotes

1 National Institute of Statistics and Economic Studies of the Grand Duchy of Luxembourg (Institut national de la statistique et des études Économiques du Grand-Duché de Luxembourg).

2 The amounts are indicative and subject to confirmation by the authorities.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More