16. 08. 10. - 17:00
Pensions should increase by 1.2 per cent in 2011
Austrian pensions should increase by 1.2 per cent in 2011, the rate of inflation between August 2009 and July 2010, according to the law on pensions.
That may not be the case, however, since in past years representatives of pensioners’ organisations and the federal government have agreed independently of the law on increases that have then been sanctioned by the federal parliament.
The organisations want the increase to reflect the 1.6 increase over the past year in the pensioners’ price index, based on a special basket of goods and services used by pensioners.
The pension commission will formally decide upon the amount of the increase at the of October. The social minister will then accept its recommendation or conclude another agreement with leaders of pensioners’ organisations.
Parliament will then have to pass legislation implementing the eventual pension increase.