The news caused a stir on Wednesday morning: due to a “side effect” of the high inflation, the existing rules for calculating pensions suddenly have such a negative effect that those affected can lose tens of thousands of euros. These are mainly those who will retire this year or in 2024. We explain the background that affects about 300,000 people.
About 100,000 Austrians retire every year. “But anyone planning to do so this year or in the next two years is threatened with significant losses on their pension,” warns AK expert Wolfgang Panholzl. The cause lies in the sharp rise in inflation, which has a negative effect on the calculation of the pension.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
