Pensions in Austria rise between 4.5 and 4.7 percent

Pensions in Austria rise between 4.5 and 4.7 percent

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The compensation allowance is also to increase by the same amount. There will be a cap again for the highest pensions. The protective clause for the pension account will be extended by one year, and the pro rata rationing of the first pension increase will remain suspended.

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The government has rushed ahead this time, because the statutory adjustment factor, calculated from the average inflation from August 2023 to July 2024, will not be determined until the July inflation is also known. According to government information, experts currently estimate that the cumulative annual inflation will be between 4.5 and 4.7 percent. Statistics Austria will publish its flash estimate on Wednesday, and the final value will be determined in September. The National Council’s decision on the pension increase is also planned for September.

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