The grand duchy’s old age dependency ratio is projected to rise from 21% in 2020 to 57.2% in 2100.
The ratio measures the number of people 65 years and over compared to the number of working age people (15-64 years old) per 100 residents.
A 21% rate indicates that roughly five people are currently working to support each retiree. The projection “means that there will be fewer than two persons of working age for each elderly person aged 65 and over,” Eurostat, the EU’s statistics agency, said on 13 July. An aging workforce places a strain on the healthcare and public pension systems.
Even before 2100, Luxembourg’s ratio will likely rise sharply. Eurostat forecast it would be 34.6% in 2040 and 41.7% in 2050, meaning there will be less than three workers per retiree.
The forecast for Luxembourg was nearly identical to the figure for the entire EU27: an old age dependency ratio of 57.1% in 2100.
Eurostat predicted the highest rates in the EU27 would be found in Poland (63.2%), Italy (62.4%), Malta (61.9%), Finland (61.7%) and Croatia (60.8%).
The figures for France (55.6%), the Netherlands (54.9%), Ireland (54.7%) and Belgium (54.3%) were slightly lower than those for the grand duchy, but still hovered around two workers per retiree.
The lowest rates were expected to be recorded in Denmark (53.7%), Germany (53.5%), the Czech Republic (52.7%), Sweden (52.6%) and Cyprus (52.2%).
The EU’s old-age dependency ratio is projected to be at 57% in 2100, almost double that of 2019 (31%)
This means that there will be fewer than two persons of working age for each #elderly person aged 65 and over