Pension system in Austria: How to secure the standard of living!
Pension system in Austria: How to secure the standard of living!
In Austria, an alarming trend in retirement provision shows: According to a recently published report by Swiss Life, there is a massive loss of trust among pensioners. The pension funds fight with a terrifyingly low performance of only 1.18 percent in the past three years, which threatens many beneficiaries in their existence. The location is further tightened by drastic pension cuts and a lack of annual valorization, which can lead to a loss of around 250 euros in purchasing power. These worrying developments throw a shadow on the financial security of the older generation, as the pension representatives of Pekabe report.
high returns of the pension funds
In contrast, the specialist association of pension and pension funds reports an exceptionally good year 2024. With a performance of impressive 7.76 percent, the domestic pension funds set new standards. These positive results are crucial to restore confidence in retirement provision. On average, the approximately 155,000 beneficiaries received a monthly additional pension of 417 euros, a gratifying plus for many households. The advice is clearly in favor of expanding company pension schemes - a claim that gains urgency in times of economic change and the increasing cost of living. A WIFO study shows that an additional contribution of 2.5 percent of the gross wage can increase the overall pension by up to 19 percent, which is particularly important for low-income earners, such as wko.at .The discrepancy between the alarming developments in the area of the pension funds and the positive yields of the pension funds could lead to an interesting social dialogue. Nevertheless, uncertainty remains on the market and the need for reforms in old -age provision. The current situation illustrates that a fundamental re -evaluation and adaptation of the entire pension system is necessary in order to be able to better counter future challenges. The impending decisions of the upcoming federal government are therefore of crucial importance in order to regain trust in retirement provision, such as
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