New expert study

Carinthians see chances of a good pension dwindling

Poverty in old age must be prevented.

(Bild: Scharinger Daniel/Pressefoto Scharinger © Daniel Scharinger)

New study reveals views on the pension system. Carinthians also fear a deterioration in their quality of life. Nevertheless, private pension provision is experiencing a renaissance.

Every year, Erste Bank, the savings banks and Wiener Städtische take a close look at the concerns of the population as part of their pension study. And once again it is clear that the Carinthians are looking to the future with many worry lines.

Deterioration in quality of life feared
Carinthians are particularly worried about geopolitical unrest. As many as 64 percent of respondents fear a deterioration in the quality of life. 26 percent hope that their standards will remain the same, while nine percent believe that the situation will improve. "So it is hardly surprising that the topic of pensions is becoming increasingly important," explains Sonja Brandtmayer, Deputy General Manager of Wiener Städtische.

The growing discussion about the financial viability of the state pension system is having an impact. The fact that one in four tax euros is now used to support public pensions is unsettling many people in Carinthia.

Sonja Brandtmayer, Generaldirektor-Stellvertreterin der Wiener Städtischen

The deterioration in quality of life is also accompanied by dissatisfaction with the state pension system. "One in seven people in Carinthia assume that they will not receive a sufficiently high state pension in old age. And there is growing concern that they will not be able to afford the standard of living they want in retirement," explains Michael Koren, CEO of Kärntner Sparkasse. This means that 38 percent of the Carinthian population also doubt that they will be able to enjoy a pension without an additional job and income.

Sparkasse Managing Board member Michael Koren, Kevin Müller (Head of Private Customers at Kärntner Sparkasse), Sonja Brandtmayer (Deputy General Manager of Wiener Städtische Versicherung), IMAS study author Paul Eiselsberg and Sales Director Hannes Greiler (Wiener Städtische Team s Versicherung) presented the study.

(Bild: Hannes Krainz)

Savings books and co. are making a big comeback 
For this reason, private pension provision is also experiencing a renaissance. Every second Carinthian invests in it. 58 percent of Carinthians still rely on the good old savings book, 29 percent invest in a building society savings contract and 27 percent in life insurance. But securities, gold, fund savings plans and real estate are also very popular.

"Despite the economic tensions, people are investing an average of EUR 250 per month in their pension provision. In 2024, it was slightly less," says Kevin Müller, Head of Private Customers at Kärntner Sparkasse. However, the maximum willingness to save has not yet been exhausted. In the survey, Carinthians stated that they could invest up to EUR 302 per month in private provision.

Pension advice is being further expanded 
And while the clients of the pension study agree that poverty in old age among Carinthians must be avoided, they are also focusing on expanding advice in the area of private pension provision. "This is where we will step up our efforts to highlight the need for personal provision even more clearly and to make people in Carinthia even more aware of the urgency of making private provision in good time," says Koren.