Austria’s retirement income system consists of a hybrid defined benefit public scheme with an income-tested top-up for low-income pensioners and voluntary private pension plans.

The overall index value for the Austrian system could be increased by:

  • Introducing a minimum access age so that the benefits from private pension plans are preserved for retirement purposes
  • Increasing coverage of employees in occupational pension schemes thereby increasing the level of contributions and assets (can be done by collective bargaining agreements or
    tax effective regulation)
  • Enabling individuals to retire gradually whilst receiving a part pension
  • ƒƒIncreasing the labour force participation rate at older ages as life expectancies rise

The Austrian index value fell slightly from 52.2 in 2015 to 51.7 in 2016 due to a number of small changes.

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