The Austrian Pension System: Pensioners' Paradise or a Burden for Future Generations?

The media often presents the pension system in Austria as a model for Germany. Looking more closely at the key figures of the Austrian pension system, however, the sustainability of the system is doubtful, since with an increase in the old-age dependency ratio up to 2060, it can be expected, assuming an unchanged status quo, that pensions will be covered to a decreasing extent by current contributions. In order to secure sustainability, reforms are needed that may lead to a reduction in pension levels, an increase in the retirement age or a rise in pension contributions.