Urgent reform requirement: This is how our pension system is!

Urgent reform requirement: This is how our pension system is!

Current debates on pension reform in Austria provided an expert round in which the urgency of a reform of the pension system was emphasized. The WiFo boss and economist, Gabriel Felbermayr, underlined that an adaptation of the retirement age to the increasing life expectancy is essential. In the past, the relationship between workers and retirementists was optimal, but the numbers are alarming: from 4.5 working people per pensioner in 1980 to only three in the previous year and probably 1.7 in 2050. This development mandatory measures to stabilize the pension system, as has already happened in countries like Denmark or Greece, as Felbermayr pointed out as he commented on the reforms .

urgency of the reforms

A study created by Economist Thomas URL provides the WIFO experts important insights into how other countries adapt their systems. While only Ireland and Spain relate to higher contributions, most European countries have focused on the starting age. Experts report that the financial burdens due to the high inflation and a falling number of contributors are also clear requirements for Austria. According to URL, it is important to distribute the financial burdens evenly to the different years so that future generations will not be disproportionately burdened. This view can be found in the Neos' demands, the "courageous reforms", emphasizes Sophie Wotschke, Chair of the Youth Organization of the Party, such as .