Union researcher: Austria pension is better | Your provision
According to the findings of the social researchers, the pensions that employees can expect from both countries with gaps in their employment history are similarly different. Experts estimate that those who initially earned below average earnings, come to an above-average income towards the end of their working life, become unemployed at 59 and retire four years later at 63, would get 30 percent of the average salary in Germany and 65 percent in Austria before. And even with a career with phases of child-rearing, the affected female employees in Germany could expect a replacement rate of around 42 percent in the future, but in Austria they would “get a rate of a good 78 percent”, i.e. Blank and Türk.
The expected pension level is for today’s young professionals in the Austrian pension insurance, even without taking into account the social compensation, “as a rule almost exactly twice as high as in the German pension insurance”, the experts summarize their analysis. Today’s retirees between Vorarlberg and Burgenland would be much better off than retirees in this country. The two scientists therefore also speak out in Germany “in favor of strengthening social insurance as a flexible instrument of social security”.