Calculations show:

“Working for 45 years” is a myth for many

Austrians have an average of 38.75 years of insurance benefits. We are therefore a long way from 45 years of work.

(Bild: (c) www.VIENNAREPORT.at)

The SPÖ and trade unions are currently calling for 45 years of work to be enough. According to experts, however, this is a myth: in 2022, the average pensioner will have accumulated only 38.75 years of insurance benefits.

SPÖ leader Andreas Babler is repeatedly confronted with internal cross-fire in the middle of election campaigns. He has recently shut Georg Dornauer up with his thoughts on "zero asylum immigration". The Tyrolean apologized, but unrest is likely to remain.

Austrians have an average of 38.75 years of insurance benefits. We are therefore a long way from 45 years of work.

(Bild: (c) www.VIENNAREPORT.at)

All Reds - including the trade union - agree on one point: less workload. And "45 years of work is enough". There is probably little disagreement here. But this is a nice, albeit "unrealistic slogan of the SPÖ", says Denes Kucsera, economist at Agenda Austria. He and his team have made calculations: As of 2022, all pension recipients will have an average of only 38.75 years of insurance benefits. Including periods of unemployment etc. For women, the figure is 36 years.

From the left: Trade unionist Josef Muchitsch and SPÖ leader Andreas Babler

(Bild: APA/ROLAND SCHLAGER)

 Demand for system change
"We are a long way away from the often-cited 45 years of insurance," says Kucsera. The economists calculate that an average of 45.6 percent of men and only 4.3 percent of women in Austria achieve this figure. In total, only 25.5 percent.

This has an impact on the entire pension problem. "The retirement age in Austria remains constant and life expectancy is increasing. People are working for fewer and fewer years and retiring for longer. This trend will not change." For the year 2060, life expectancy after retirement will be an additional 25.3 years. For women, it is calculated to be 29 years. The current figures are 20.5 and 26 years respectively.

Nasty letters from pensioners
Agenda economist Kucsera concludes: "Raising the de facto retirement age in the planned form is not enough. We need a major reform and an automatic pension system, as exists in most countries." In other words, adjusting the retirement age to life expectancy. However, Kucsera is skeptical. "No governing party will seriously tackle this issue." Agenda Austria always receives angry letters from pensioners when it issues such warnings. "But they are not affected at all. It's about the future. And how long we can still afford the system."