Austria

1992 Verfassungsgesetz über die Angleichung des Pensionsalters der Frauen an das der Männer

Retirement age for women aligned with those of men (to be phased in 2018to 2034).

1993 Sozialrechtsänderungsgesetz 1993 (Pension reform 1993)

Switch from gross to net wage indexation.

Higher coefficient for those retiring later.

Basis for calculation of benefits extended to 15 best years.

Introduction of partial pension for workers accepting shorter working hours.

Introduction of pension credits for child rearing.

1995 Strukturanpassungsgesetz 1995 (Consolidation package 1995)

No notable measures in the area of pensions (despite proposals in the original savings package).

1996 Strukturanpassungsgesetz 1996 (Consolidation package 1996/97)

Tighter eligibility criteria for early retirement pensions.

General freeze of pensions for one year (two years for civil servants).

Lower credits for schooling.

Lower civil servant pensions for those retiring before 60.

1997 Arbeits- und Sozialrechtsänderungsgesetz 1997 (Pension reform 1997)

For early retirees, number of “best years” on which benefits are computed increased from 15 to 18 years (to be phased in 2003 to 2020)

Introduction of uniform accrual rate of 2% of the calculation base for each year of insurance (old law: 1.9% per annum for first 30 insurance years and 1.5% for 31-45 insurance years). For each year of early retirement the above mentioned percentage is reduced by 2% up to a maximum of 10% (valid from 2000 onwards).

Criteria for taking up a part-time pension relaxed with respect to the required reduction of hours of work. New form of part-time pension introduced, requiring a shorter contribution period.

Pension credits for child rearing increased.

Individuals nursing family members who give up employment can still be covered by the pension insurance under related favourable conditions.

Higher contributions for the self-employed and farmers.

The pension base for civil servants is changed from the last salary to 18 years (to be phased in 2003 and 2020).

Pensions for civil servants to be annually adjusted applying adjustment factor of the general pension system.