Occupational Pension Systems in Austria 2007

By international standards occupational pensions are not very common in Austria. They are implemented using several financial modes. Of the three most important ones, i.e., pension funds, group life insurance and direct pension commitments only pension funds offer a comprehensive data base. Any assessment of the other two occupational pension types depends on company surveys, as carried out by WIFO now for the third time. The survey results point to an expansion of occupational pension schemes in the private sector. The implementation of salary reforms in the civil service significantly enhanced the prevalence of occupational pension schemes. Nevertheless, the average contribution to new contracts is low, so that comparatively small supplementary pensions can be expected in the future.