English, Article edition: Austria's Old-Age Pension System in an International Comparison Alois Guger

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Physical Description
  • article
Language
  • English

Edition details

Title
  • Austria's Old-Age Pension System in an International Comparison
Author
  • Alois Guger
Physical Description
  • article
Notes
  • Adverse demographic trends necessitate reforms of the old-age pension systems in all industrialized countries. By the year 2030, the population of pension age will have increased by more than 70 percent, while the working-age population will have shrunk by 12 percent. EU calculations indicate that in order to safeguard long-term financing of the current system, Austria would have to raise contributions by well over 50 percent, raise the retirement age by 11 years or reduce the net income replacement rate by 45 percent. From an international perspective, Austria has a relatively generous pension system. In view of the very low retirement age and high net income replacement rates, the Austrian system offers sufficient maneuvering room for socially acceptable reforms designed to put the pension system on a sustainable financial basis.
  • RePEc:wfo:wquart:y:1998:i:1:p:31-42
  • In all industrialized countries demographic trends necessitate a reform of the provision of retirement income. The rise in the population of pension age relative to the working-age population (the old-age dependency ratio) puts considerable strain on existing public pension systems.
  • Perspektiven der österreichischen Altersvorsorge im internationalen Vergleich; Austria's Old-Age Pension System in an International Comparison
  • RePEc:wfo:monber:y:1997:i:9:p:535-546
Language
  • English
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