PARLIAMENTARY WORK
Michel served as rapporteur for several laws in tax legislation, above all double-taxation agreements with many countries. He also presented in Parliament the legislative amendments that complement the pension reform:
From 2026 onwards, there will be an allowance of €750 per month (maximum €9,000 per year) for employees who, voluntarily and despite being entitled to a pension, continue working. The aim is to create incentives to remain in working life longer, so that the actual retirement age moves closer to the statutory age of 65
The ceiling for being able to deduct a private supplementary pension insurance policy for tax purposes as special expenses has been raised from €3,200 to €4,500 per year
As the first country in Europe, Luxembourg has issued a so-called Defence Bond – a law that Michel reported on in Parliament:
Defence expenditure is to be financed in part through this government bond issue amounting to €150 million. Citizens can invest in these bonds and the interest is tax-free.
Michel was also a driving force behind taking a clear stance to preserve and strengthen our solidarity-based healthcare system. There will not be a system with different tiers of benefits in Luxembourg: no to two-tier medicine.
Michel’s priorities will focus on tax policy.
