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Retiree Representatives Demand 2.7% Pension Increase

Published: August 17, 2011; 15:21 · (Vindobona)

According to legal regulations, Austrian pension payments have to be adjusted for the previous year’s inflation. Next year the cost would be approximately € 1bn.

Retiree Representatives Demand 2.7% Pension Increase / Picture: © Flickr

Austrian pension payments should increase by 2.7% next year. This figure corresponds to the average inflation rate in the period from August 2010 to July 2011. The resulting cost would amount to almost € 1bn. According to legal regulations, pension payments have to be adjusted based on the previous year’s inflation rate.

However, politicians have not followed this rule in…

This article includes a total of 204 words.

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