Claim, criticism & co.

Everything you need to know about “new severance pay”

Since 2003, all new employment contracts concluded in Austria have been subject to the "new severance pay scheme". However, many people do not know what this means. We explain.

(Bild: Joachim Wendler - stock.adobe.com)

Do you receive annual account information about your severance pay entitlements and don't really know what to do with it? We give you an overview of the "new severance pay scheme", explain what you should look out for and reveal who is criticizing the current system and why.

After 21 years, it is anything but new, but it is still referred to as such. The "new severance pay scheme" applies to all employment contracts concluded since January 1, 2003. Companies regularly pay into a pension fund to save up severance pay for employees. But do you know how high your entitlement is, what happens to the money or when it makes sense to combine assets from several jobs? We have all the answers for you.