After more than two years, the Old Age Safety Committee now has a new chairman. The government has reached an agreement for economist Christine Mayrhuber. Mayrhuber has already announced a reform of the system, such as new tasks for the committee. In addition, a debate about a higher retirement age is necessary.
What is especially important, she says, is a total concept, so that constant changes are not necessary as economic conditions change. Recently there was a protection clause for new retirees who were at risk of major losses due to inflation. Mayrhuber spoke of a planning horizon of thirty years.
New tasks?
The economist also wants to propose changes to the committee’s tasks. For example, there should no longer be separate reports for statutory pension insurance and government employees, but rather a complete overview. In other countries, experts from a wide range of disciplines sit on such committees. The Austrian Commission currently consists of social partners and representatives of seniors’ and youth organizations, as well as various ministries.
“Independent representative of science”
“Christine Mayrhuber has been a member of the Old Age Security Commission for several years and, as a WIFO expert, has always contributed her extensive knowledge of the structure and financing of pension insurance and proven her competence for the upcoming tasks,” the Austrian Senior Citizens Council said in a press release. She is an “independent representative of science.” Mayrhuber was already represented on the committee, but had no voting rights.
The management position was vacant for almost two and a half years after Walter Pöltner resigned at the end of 2021, because he felt that the pension issue was not being taken seriously enough by politicians. It is still unclear how much time Mayrhuber will get as manager. The five-year term expires in the autumn, but an extension is conceivable.
Rauch sees the financing secured
Social Affairs Minister Johannes Rauch (Greens) said in a press release that the long-term financing of the pension system had been secured, as forecasts had shown. However, it is important to bring the actual retirement age closer to the legal age. High inflation, lower economic growth and demographic developments would lead to additional spending in the coming years.
Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
