Austria will spend more than 120 billion in 2024. That is 120,000 – in words one hundred and twenty thousand – million. A number with ten zeros at the end. 120000000000 euros. Almost unimaginably much. But around 30 billion euros, or about a quarter or every fourth euro, flows exclusively to the pension sector. Good this way. But can we afford that?
1. The reason The reason for the high pension costs is that we are all getting older. I am in favor. Every year I am more in favor of it. Normally you don’t write newspaper texts in the first person. But of course almost everyone is happy with the increasing life expectancy. It should also be clear to everyone that the state needs adequate old-age benefits, better known as pensions.
I am George Kunkel, an author working for Today Times Live. I specialize in opinion pieces and cover stories that are both informative and thought-provoking – helping to shape public discourse on key issues. My work is regularly featured across the network’s many platforms, including print media and social media.