More and more Austrians rely on private pension provision, for example in the form of effects. This is now demonstrated by a “Stock Barometer” survey. The state pension system is increasingly criticized because of the costs, said the Industrial Association (IV).
She had commissioned the research at the Hajek Institute together with the Aktienforum and the Vienna Stock Exchange. Accordingly, almost every third Austrian and every third Austrian invests in shares, bonds, investment funds and ETFs. This shows that long -term assets had arrived in the middle of society.
Even more respondents – about six out of ten (57 percent) – have a private pension provision. Another 1.4 million people have the investigation in an interest in acquiring effects. “Our business location stands for major challenges-us social system is becoming more expensive, and our state budget is under enormous pressure. A strong capital market is essential only for the competitiveness of our location, but also for the protection of our social system and therefore for our prosperity,” said IV president Georg Knill.
Capital -covered pension schemes in other countries
In this context, IV sends the pension systems in other countries, such as in the Netherlands and Denmark. “There are more than 200 percent of GDP in wealthy pension plans. The value of Austria is even less negligible by less than seven percent,” said Angelika Sommer-Hemetsberger. The government of Austria must currently issue a much larger share of the economic output for public 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.
