Pension shock: Millions of Austrians threaten dramatic losses!

Pension shock: Millions of Austrians threaten dramatic losses!

Österreich - There is a threat of a drastic austerity measure that could affect more than seven million people in Austria directly: FPÖ and ÖVP are planning to suspend the pension account. This project would have a massive impact on the pension claims of many professionals. According to information from the Krone , social security endangers, which is dependent on reliability and transparency. Erik Türk, pension expert of the Chamber of Labor, describes the plans as "insane" and warns of the uncertainty that could arise.

The pension credits currently refer to 1.78 percent of the gross salary of employees. As of January 1, 2025, a revaluation factor of 6.3 percent for the pension accounts was determined, which could lead to an increase of up to 35,000 euros for some future pensioners. However, the ÖGB emphasizes that, especially for the approximately 300,000 people who will retire in 2024 or 2025, the current high inflation has profound effects. This group of people could look through the fingers financially, since the inflation adjustment in the pension calculation is delayed.

The central problem remains that a possible retrospective deletion of the increase as of January 1, 2025 could not only influence the current pension situation, but also have long had overdue adjustments for future recipients. The revaluation factor, which is intended to reflect the income development of the social insured in Austria, lags behind the actual inflation. This could force numerous people to retire earlier instead of maintaining the pensions they are entitled to. This would not only affect the individual, but also put an additional burden on the labor market, as explained by Ingrid Reischl from the ÖGB.