"Would Be Devastation": Sharp Criticism of Possible Changes to Pension Accounts
The Vienna Chamber of Labour opposes possible interventions in the pension account revaluation. Media had recently reported on corresponding plans in the government negotiations between the FPÖ and ÖVP. A discontinuation of the revaluation in 2025 "would really be a clear-cut", the Chamber said. "Everyone who is not yet retired would be massively reduced in their claims," said AK expert Ines Stilling to the APA. The saving effect would be "relatively small".
Chamber of Labour Criticises Austerity Plans for Pensions
With a retroactive cut from 1st January, around 80 million euros could be saved in 2025. Over 6 billion euros are being sought for this year. According to the AK, the effect of the measure would extend over the next 45 years. The bottom line would be "horrendous pension cuts" for the working population. The argument that only young people would be affected is "wrong", says Stilling. Especially those who "have already paid more" would feel the cuts.
All previously acquired pension entitlements would decrease by 6 percent without the revaluation. For an old-age pension of 3,000 euros, this would correspond to a monthly loss of 180 euros according to the AK. Extrapolated to the year, this would be a good 2,500, over the entire period of receipt a good 51,000 euros. For Stilling, the idea carries "disadvantages for everyone". The negotiating teams "had not considered this or accepted it".
Intervention "Perfidious", Better to Work Until 65
The effects would be "considerable in the long term" for the AK expert. An intervention would therefore be "perfidious" and destroy the population's trust in value-secured pensions. According to Stilling, this would actively "take money away" from people, unsettle them and increase the risk of poverty. Stilling did not necessarily see an incentive to perform.
She would find it more sensible to keep workers in the job market until the age of 65. It is "absolutely necessary" that people can work until then and actually do so. One must look at which companies do not employ people over 60 years of age. These employers would have to be held accountable, if necessary, with penalties. Stilling would support partial retirement models and better rehabilitation programs.
Vienna Mayor Ludwig Calls for Sustainable Solutions
Support for the position of the AK came on Thursday from Vienna's Mayor Michael Ludwig (SPÖ). The cuts "endanger the long-term social security of all," he said in a statement. "Our pensions must not become a plaything of short-term savings. We need sustainable solutions that give people security and recognize their life's work."
Blue-Black Plans Propose Lower Valuation of Pension Accounts
According to information from "Die Presse" (Thursday edition), however, there should not be a withdrawal of the increase for 2025, instead FPÖ and ÖVP want to adjust the value of the pension accounts lower than planned for 2026 and 2027. The pension accounts should not be increased more than the current pensions for the two years, reports the daily newspaper "Die Presse". This would mean a permanent saving for the state, as the pension expenditures would thus be slowed down. Of course, this would also mean that future pensioners would miss out on a lot of money.
(APA/Red)
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