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Social Policy
Austria Has 2.2 Million Retirees
Against 2010, the number of retirees was up by 1.3%. The average retirement age did not increase, employment of older persons could improve.
January 14, 2012
Austria Grants Highest Subsidies in Europe
In 2010, subsidies amounting to 6.5% of the Austrian GDP were distributed. The EU-average is only the half.
January 7, 2012
Austerity Package: Business Association Warns of New Taxes
New taxes would be an “attack against the economy”, general secretary Peter Haubner says.
January 4, 2012
Dispute Over Part Time Work
The Austrian Chamber of Commerce and the trade union disagree over the advantages and disadvantages of part-time work for employees.
January 3, 2012
Austrian Government Debt Stands at € 214bn
Austrian government debt in relation to GDP declined slightly to 71.6%. Social insurance carriers reduced their debt by 49.5%.
December 30, 2011
40% of Austrian Employees Work In Spite of Illness
The feared loss of the job is one of the most important reasons, says a survey by the Chamber of Labor.
December 27, 2011
Substantial Gender Difference in Full-Time Employment
In Austria, 4.03 million employees counted for 3.54 million full-time equivalents in 2010. The gender gap is significant.
December 20, 2011
Women´s Income Below Men
In Austria, the annual income of women is still considerably below men. However, this is mainly due to part time work. Male employees in private sector are top earners.
December 6, 2011
Increasing Gap in Incomes
Although Austria´s Gini coefficient is relatively low, the gap between high and low incomes becomes larger.
December 6, 2011
Austrian Industry Supports Audit Court
For the Federation of Austrian Industries (IV), the administration has to be reformed immediately. Future investments are needed instead of administrative expenses.
December 5, 2011
Austria’s Population Exceeds 8.4 Million Inhabitants
The population has grown by 400,000 persons since 2001. The positive trend was observed in all federal states except Carinthia.
December 1, 2011
Austrian Government Pushes for Further Austerity Measures
The Minister of Finance, Maria Fekter, did not exclude an austerity package. First effects should be seen already in 2012. However, it is not clear yet if economic forecasts for the next year will hold.
November 26, 2011
Insufficient Child Care Facilities in Austria
Increase of childcare rates, but supply of childcare facilities still insufficient for 12% of all persons with childcare responsibilities
November 22, 2011
Poverty: 1.0 Million Austrians Endangered
In Austria, 12% of the population is endangered of poverty. About the half of this group is permanently poor.
November 14, 2011
Savings Capacity in Austrian Health Care System
Expenses for the Austrian health care system amount to 11.0% of the GDP. The savings capacity has to be exploited, politicians say.
November 12, 2011
Austria Has Third-Highest Pension Costs in Europe
Austria´s expenditures for retires reached 12.7% of ist GDP. Only France and Italy surpass Austria. Sustainability of the domestic pension system improved slightly.
November 7, 2011
Number of Staff Ill Decreasing
In Austria, the number of staff ill decreased slightly in 2010. On average, on 12.9 days staff was away sick. Sickness is becoming a main cause for retirements.
October 22, 2011
Austrian Budget: 3.2% Deficit in 2012
Today, the Austrian Minister of Finance, Maria Fekter, presented the budget for 2012. The debt quota rises further until 2015.
October 19, 2011
Austrian Population Forecast 2050: Growth from 8.4m to 9.4m People
The Austrian population is growing – and becomes older. In 2030, 9.0m people will live in Austria, 9.4m in 2050.
September 21, 2011
Austrian Competitiveness Shrinks Further
According to a market survey of the consulting group Ernst & Young, Austria´s international competitiveness has still worsened and fell from rank 18 to 19.
September 7, 2011
Unions Call for Massive Wage Increase
Austrian unionists demand a substantial premium above the inflation rate. They argue that employees should benefit from the strong economic development.
August 19, 2011
Retiree Representatives Demand 2.7% Pension Increase
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.
August 17, 2011
Pension Funds with Negative Performance in 2011
At the end of June, the funds registered a minus of 1.2%, after -0.7% in the first quarter. Assets under management amount to € 15bn.
July 13, 2011
Austrian Government Debt Grew to € 210bn
Debt of the federal sector increased by € 6.3bn, while all other sectors registered a decline. Social insurance carriers’ debt fell by 32%.
June 30, 2011
Retirement Provisioning: Austrians Put aside € 63 per Month
Retirement provisioning study 2011: Austrians prefer low-risk investments. 58% rely on the financial knowledge of their bank account managers.
June 29, 2011
Leitl: "Reforms, Despite the Positive economic Outlook Should Not Be Forgotten"
Spring forecast by the EU Commission: Clearly improved growth prospects for Austria and the European Union
May 14, 2011
Austrian Educational Level Rises
Educational level of young people aged 15 to 34 compared with their parents: Trend towards higher education.
April 28, 2011
Rethinking of Health Policy Required
Junge Wirtschaft (Young Business) demands more economic incentives for healthy lifestyles for employees. This should allow an increase in retirement age.
April 19, 2011
Austria's Labor Costs above EU Average
An hour of work costs an Austrian employer an average € 28.00 - six euro more than the EU average.
April 13, 2011
Occupational Pension Funds: Deposits in Investment funds +32%
By the end of 2010, the volume of pension rights of the ten occupational pension funds operating in Austria amounted to € 3.56bn, representing an increase of 26% compared with the end of December 2009.
April 12, 2011
Hundstorfer and Leitl Promote Increase in Retirement Age
The Austrian Minister of Social Affairs as well as the Head of WKÖ (Austrian Economic Chamber, Christoph Leitl, want to reduce public payments for pensions.
April 11, 2011
Austrian Trade Union Continues to Lose Members
The Austrian Trade Union Federation (ÖGB) registered a loss of 11,000 members last year. The decline showed a slight reduction.
April 6, 2011
Leitl Demands Reduction of Public Debt
The President of the Austrian Economic Chamber sees potential for efficiency in the administration, as well as in the health and pension system
April 1, 2011
Austrians are among the European Leaders in Pension Duration
Austrians currently spend an average of over 23 years in retirement; this is about twice as long as in 1970. Austria ranks second in Europe in this respect.
March 31, 2011
Manufacturing Industry on Pensions: Structural Reform has to be Adressed Urgently
Manufacturing industry representatives were surprised at ÖGB statements. Instead of early retirements, more funds should be freed for future investments.
March 26, 2011
300,000 Austrians in Poverty despite Working
The term "working poor" is an established fact in Austria. Full 6% of full-time employees are in poverty.
March 22, 2011
WKÖ: No EU Interference in Tariff Negotiations
The President of the Austrian Economic Chamber expects no interference from Brussels in domestic collective agreement negotiations.
March 22, 2011
Young Industry on Pensions: Failure of Politicians is "Evidence of Incapacity"
Mitterbauer said: "Austria continues to be a record holder for early retirement, despite the massive and long-term need for action." Inaction is "an affront to the younger generations".
March 19, 2011
Company Pension Funds Tend to Investment Funds
Investing in investment funds is a growing trend for company pension funds (betriebliche Vorsorgekassen), increasing by 32% in 2010. The volume of corporate pension funds increased by 26%.
March 11, 2011
Economic Chamber Demands Redeployment of "Manual Workers Regulation" in Favor of Research
The Austrian Economic Chamber presented a list of demands to the federal government. Critics say it is to no purpose.
March 10, 2011
New Sharp Criticism of the Pension System
Austria's Young Industry's opinion on pensions: "politicians can no longer deny reality" There are many known weaknesses in the system.
March 9, 2011
Demand for Minimum Wage meets with Hostility
The proposal by the Minister for officials, Gabriele Heinisch-Hosek, to introduce a minimum wage of € 1300, is mere populism, according to the Economic Chamber.
March 8, 2011
Demand for Increase in Retirement Age
Austrian Young Economy demands again a "sustainable" pension system. Less early retirement, but more later pensioning is required.
March 8, 2011
VBV – Vorsorgekasse AG Increases Fnd Investment Volume by 25%
The number of prospective beneficiaries grew by11% to 1.85 million in 2010; net performance was at 2.0%.
March 5, 2011
Workers Continue Seeing the Situation on the Labor Market as Critical
The work climate index of the Austrian Chamber of Labour (AK, Arbeiterkammer Österreich) indicates that workers continue considering the situation on the labor market as critical despite rising employment.
March 4, 2011
Minister for Social Affairs: Retirement Age to be Raised
The Austrian Minister for Social Affairs, Rudolf Hundstorfer, intends to raise the retirement age until 2025.
February 19, 2011
The IHS insists on higher retirement age
The Institute of Advanced Studies (IHS) admonishes the Austrian government to raise the retirement age.
February 18, 2011
Austrian Economic Chamber criticizes Pension System
The Premium Model of the Economic Chambers rewards working longer instead of early retirement.
February 17, 2011
Austria's Pension Funds: 6.61% yield in 2010
Austria's pension funds generated an income of around € 800m in 2010. The annual performance is above the long-term average.
January 27, 2011
12% of Austrian Population at Risk of Poverty
Europe 2020 strategy against risk-of-poverty and exclusion: Every sixth person in Austria is in target population.
January 21, 2011
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