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“We Must Work Until 70”

Published: January 2, 2013; 18:41 · (Vindobona)

In an interview with the Austrian news magazine “Standard”, the pension expert Christopher Prinz explains that an increase of the retirement age is inevitable.

“We Must Work Until 70” / Picture: © Flickr

At the moment, the average retirement age of Austrians is only 58. Prinz argues that early retirements must be reduced by higher discounts. The annual discount must come at six or seven percent, he says. Moreover, the pension amount of 80% of the last gross salary would be too high. “A reduction to 60% is acceptable.”

According to Prinz, the pension reforms made by the…

This article includes a total of 240 words.

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