Austria Investment and Pensions

Austrian Pensionskassen assets now total €30.4bn (as of end-2025) – overall the sector has returned 5.02% on an annual basis since the system came into existence in 1991 and the total number of Austrians with entitlement to a supplementary pension through a Pensionskasse now exceeds 1.1 million. Vorsorgekassen – which oversee supplementary savings through the ‘Abfertigung neu’ severance pay management system – now manage €23.4m, with 11.5 million participants. Pensions are moving up the political agenda following the election of 2024 and there are now proposals before parliament which would allow the transfer of savings in Vorsorgekassen to a Pensionskasse – alongside other options, including transfer to a life insurance policy and selection of a higher-risk investment strategy. Vorsorgekassen assets are managed on a conservative basis, making moderate returns. There are seven Pensionskassen and seven Vorsorgekassen in the market, with some overlap between the two. Five of the Pensionskassen are multi-employer schemes, with two corporate schemes, serving federal staff and those working for social insurance providers.