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Manufacturing Industry on Pensions: Structural Reform has to be Adressed Urgently

Published: March 26, 2011; 12:42 · (Vindobona)

Manufacturing industry representatives were surprised at ÖGB statements. Instead of early retirements, more funds should be freed for future investments.

Manufacturing Industry on Pensions: Structural Reform has to be Adressed Urgently / Picture: © Vindobona.org

The Secretary General of the Industrial Federation, Christoph Neumayer, declared himself to be “amazed” at yesterday's statements by the Chairman of the Pension Commission, Bernhard Schwarz, as well as those made in its wake by ÖGB (Austrian Trade Union Federation) President Eric Foglar, according to which there are "no major efforts required for further reforms of the pension system". However, there is coincidence with the ÖGB that the actual retirement age has to be increased.

"Companies have already believed for long that the know-how of older employees should be profited from, and this is something the Austrian Trade Union Federation should also be aware of", Neumayer stressed. "But in principle we should not close ourselves to the need of structural reform needs, something that is also demanded of the union for the purpose of ensuring location and future prospects."

The Secretary General said that politicians need to tackle a structural pension reform in Austria earnestly. "Internationally we are still a record holder, only 21% of new people going into pension do so for normal age retirement reasons."

Therefore, the "Hacklerpension" should be eliminated as quickly as possible without replacement and the “disability pension loophole be closed sustainably ", said Neumayer. “But we must also look seriously at the expenditure side, specifically: above all in the areas of pensions, administration and health, in order to free funds for urgently needed investments in education, research and development as well as for infrastructure", Neumayer concluded.