How much Upper Austrians invest in pension provision

Upper Austrians spend around 6.9 percent of their monthly net household income on their retirement provision. This puts them above the Austrian average of 6.5 percent. This is shown by a current study in which 2,000 people were surveyed on behalf of Allianz Insurance.

One result: On average, men invest eight percent of their income in their future, more money than women (5.8 percent), and the latter also feel less secure for the future.

Securing the family is important to Upper Austrians: 65 percent of parents take precautionary measures for their children. Overall, according to the study, 91 percent of Upper Austrians (Austria as a whole: 86 percent) make provisions for themselves or other people.

Grandparents provide for grandchildren

More than every second person living in a relationship (56 percent) takes measures for their partner. “Men’s provision for their partner still predominates and forms of investment are very conservative,” says Verena Priemer from the market research company Marketmind. 42 percent of grandparents said they wanted to protect their grandchildren for the future.

“The Upper Austrians look at each other,” says Allianz boss Rémi Vrignaud, summarizing the study results. However, the gaps in knowledge when it comes to precautionary measures give cause for concern: Only 44 percent feel very good or well informed. Nevertheless, trust in one’s own precautionary measures is higher than in state provision.

However, there is often a gap between expectations and reality: 83 percent of 18 to 29-year-old Upper Austrians consider the purchase of living space to be important, while only 43 percent feel well secured in this regard.