A drastic step that could affect seven million people is now being promoted by the FPÖ and ÖVP as a possible austerity measure: a suspension of pension account increases. This idea also caused a stir in the “Krone” community. We want to give you the best responses.
One thing is clear: Austria must save money. In concrete terms, more than six billion euros must be saved for the 2025 budget alone. In addition to cuts and cuts in the ministries, there are now also significant cuts in the pension system. Retirement account increases for 2025 could be completely suspended. This would already have an impact on the budget for the current year.
“Whatever the costs.”
Before possible renovation measures can be discussed, many readers must first take stock of the program. The future austerity measures are based on the existing budget gap of the past black-green coalition. reader Triskele notes that anger over the coming measures should primarily be directed not at the future government, but at the previous government.
“Work must be worth it!”
However, if the proposed cuts are actually implemented, this anger is likely to quickly spread to the new government.
For many readers, suspending inflation adjustment for retirement accounts is in complete contrast to the slogan “Work should be worth it!” which was often used before the elections. According to readers, a suspension would affect everyone who actually pays into the system, while minimum pensioners would be largely spared from the consequences WerWeissWas.
“The system as a whole cannot be financed in this way!”
For some readers, the current discussion completely ignores the real problem. They call for fundamental, far-reaching reforms in the pension system.
It is clear that the system in its current form cannot function in the long term if the number of people entering the labor market each year is smaller than the number of people leaving the system towards retirement. Added to this is the continuously increasing life expectancy. Many readers note that the system in its current form is impossible to finance in the future.
Reader hades67 Finally, it is noted what was quickly lost in the entire discussion: the ideas about possible cuts are only ideas for now. FPÖ and ÖVP negotiators plan to present their 2025 budget in more detail in the coming days. Until then, the comments remain just a warning to negotiators. If the plans become reality, the government may have lost some confidence even before taking office.
What do you think of the possible savings in the pension system? What measures should be taken to protect pensions without punishing those who finance the system? Do you have any suggestions for further reforms? We look forward to your comments!
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.
