chapter  1
22 Pages

5 Why Do Pensions Urgently Need to Be Consolidated in Austria?

Both the importance and the urgency of further pension reforms in Austria can easily be illustrated by a few uncontested trend indicators. Above all, the financial sustain­ ability gaps would widen rapidly, and there would be an increase in the corresponding state subsidies required to make up the deficits in private sector pension insurance and in those civil servant retirement rights that are not covered by contributions.