BSW on pensions

The BSW calls for a tiered minimum pension of up to 1,500 euros and a rebuild of pension insurance along Austrian lines. Everyone in work would pay in, including members of parliament and ministers. To offset inflation, all pensions would first rise by 120 euros a month.

The BSW wants a minimum pension. After 40 years it is 1,500 euros. Everyone should pay into the pension fund, including politicians. All pensions should first go up by 120 euros a month.

The tiered model provides 1,200 euros after 15, 1,300 euros after 30 and 1,500 euros after 40 insurance years. On average, pensions should reach at least 75 percent of net income earned during working life. The platform points out that long-term contributors in Austria receive on average 823 euros more per month. It says requiring everyone to pay in broadens revenue and makes pension cuts less attractive for politicians.

The BSW rejects a higher retirement age and wants a pension without deductions at 63 after 45 contribution years. The pay-as-you-go pension would be strengthened. The party rejects subsidies for private plans and investing pension money in the stock market.

The BSW does not want a higher retirement age. After 45 working years, people should be able to retire at 63. There are no deductions then. Pension money should not go into stocks.

In the platform's view, low earners cannot afford private retirement plans anyway, so state support for them should end. Dampening elements in the pension formula such as the Riester factor would be removed. The platform says these were only introduced to cut pensions and steer people into private contracts. The standard of living reached during working life should be maintainable in old age.