Austrian Experts Urge for Pension Reform

Politics ♦ Published: September 25, 2012; 21:31 ♦ (Vindobona)

According to experts, Austrian citizens should postpone their retirement by four to five years.

Austrian Experts Urge for Pension Reform / Picture: ©

50 economists, scientists, social experts and industrialists called for a radical pension reform in Austria. Due to the increasing life expectancy, the Austrian retirement plan cannot be financed anymore in the near future.

The current system is not sustainable, the experts criticized. Sweden could act as role model. The basic principle is that pension contributions are put in an…