Fekter Wants to Reduce „Ageing Costs“

People ♦ Published: February 15, 2013; 20:45 ♦ (Vindobona)

Austria´s Minister of Finance Maria Fekter thinks that pension cuts are inevitable. The social democrats reject Fekter´s ideas.

Fekter Wants to Reduce „Ageing Costs“ / Picture: © ÖVP Bundespartei / Jacob Glaser

In order to achieve the austerity targets, Austria must reduce its pension costs, Fekter (ÖVP) says. According to the EU Commission, Austria´s retirement plan is not sustainable.

Fekter adds that Austria´s pension system faces severe medium and long-term risks. On the one hand, the life expectancy is growing. On the other hand, the real retirement age does not change. At the…