On Thursday, NEOS called for an ‘opportunity account’ in which all 18-year-olds in Austria would receive 25,000 euros. The whole thing must be financed by a higher retirement age (see video above).
The money is intended as a pension provision, but in certain cases it can also be withdrawn early. This could include education or training, starting a business or investing in a home. NEOS boss Beate Meinl-Reisinger said at a press conference on Thursday that 3,000 euros should be paid out tax-free annually.
She had already presented the model in a book and continued work on it with economists and youth representatives. One result is that the proposed ‘opportunity account’ will cost around 1.8 to 2.2 billion euros per year. According to EcoAustria director Monika Köppl-Turyna, this money can be raised by raising the retirement age by one year. This would yield 2.8 to 3 billion euros per year.
Private pension provision ‘underdeveloped’
The model is intended to strengthen the population’s confidence in politics. “Young people need to trust that they can build something for themselves,” Meinl-Reisinger said. At the same time, this would make higher pensions possible.
In addition, private pension provision, which is underdeveloped in this country, would be strengthened, Köppl-Turyna said. According to her, further measures such as financial education are needed.
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.
