Home » From Generosity to Sustainability - The Austrian Pension System and Options for Its Reform by Christian Thimann
From Generosity to Sustainability - The Austrian Pension System and Options for Its Reform Christian Thimann

From Generosity to Sustainability - The Austrian Pension System and Options for Its Reform

Christian Thimann

Published January 1st 1997
ISBN : 9786613784599
ebook
31 pages
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 About the Book 

In relation to its economic size, Austria has probably the worlds highest level of pension expenditures. It tops the list of 92 countries, comprising OECD countries as well as less developed countries, with 15 percent of GDP spent on pensions (ChartMoreIn relation to its economic size, Austria has probably the worlds highest level of pension expenditures. It tops the list of 92 countries, comprising OECD countries as well as less developed countries, with 15 percent of GDP spent on pensions (Chart 1).2 Austrias high spending on pensions is not because of demographics. Although the population structure is unfavorable-with one fifth of the population over 60 years old and an old-age dependency ratio3 of almost one quarter-it is not exceptional in Europe. Germany, for example, has practically the same population structure and spends considerably less on pensions. Even Sweden, which has the most unfavorable demographic structure in the 92-country sample, spends less on pensions than Austria with just under 12 percent of GDP- the OECD average pension expenditure is about 10 percent of GDP.