Models put to the test
Austria lags far behind when it comes to pensions
After a hard working life, many pensioners want to enjoy a carefree retirement - at least financially. While the pay-as-you-go system in Austria is slowly reaching its limits, there are much better models in international comparison. Krone+ took a look at other systems.
The first type of pension was introduced in Austria in 1906. The first pension insurance law was subsequently revised several times. For example, in 1927, when all employed persons were included in the insurance law. Or in 1945, when workers and employed persons were merged into the General Social Insurance Act.
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