Focus on deductions

How do you get men to work longer?

According to statistics, men retire at an average age of 61.6. The statutory retirement age is 65.

(Bild: Wenzel Markus)

The statutory retirement age for women will be raised to 65 by 2033, bringing it into line with that of men. But the fact is that men in Austria currently retire at an average age of 61.6. This not only means a lack of manpower, but also costs the state a lot of money. The Upper Austrian Chamber of Commerce wants to see measures to counteract this.

"It's about having good, sensible systems that make working longer attractive and enjoyable in the respective companies," says Doris Hummer. The President of the Upper Austrian Chamber of Commerce is attacking the "hot potato" called the pension system in time for the government negotiations. Above all, she wants to put an end to the premature retirement of healthy people.

On average, men retire at the age of 61.6
Men currently retire at an average age of 61.6, women at 60.9. For the latter, the retirement age will now be gradually increased to 65 by 2033. The impact of this on the actual retirement age has not yet been statistically recorded. However, it is clear that men are leaving the world of work too early.

"I believe we need to approach the issue with a certain objectivity and composure," says Doris Hummer, President of the Upper Austrian Chamber of Commerce.

(Bild: cityfoto.at/Roland Pelzl)

"Only a third of men take regular retirement," says Martin Halla, Professor at the Vienna University of Economics and Business. The economist analyzed the data and found: "In Austria, many men opt for more leisure time instead of a higher pension."

Higher deductions could lead to a rethink
This means that people are willing to accept deductions in order to retire before the age of 65. How can this be changed? "If I increase the deductions, the retirement age also increases - this can be clearly seen in the economic literature," emphasizes Halla. The state contributes around 30 billion euros a year to finance pensions. "The scale is glaring," says Halla.

Companies must "pick up employees better"
Erich Frommwald, Chairman of the Industry Division of the Upper Austrian Chamber of Commerce, sees a need for change not only in the system, but also in the companies themselves. "Employees often retire because another change is imminent and they don't feel comfortable with it. We need to pick them up and try to keep them in work for as long as possible."