Politics: Secretary of State for Finance in an interview: This is how Austria wants to change from a savings account country to an investor country
Future pension fund, active pension, company pensions: The Vienna coalition is restructuring the pension system. Secretary of State for Finance, Eibinger-Miedl, explains the plans in an interview. One measure is coming late.
Austria is reforming its pension system, introducing a "future deposit" for children born from January 1, 2027, with a one-time state payment of €500. Parents and others can contribute up to €5,000 per year, and the child can withdraw the entire amount tax-free at 18. The government also launched the "Aktivpension" for those working beyond retirement age, offering a €1,250 monthly tax exemption.
The reforms aim to encourage long-term investment and increase the country's low pension savings, currently at 7% of GDP, compared to 200% in Denmark.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
