Pensions likely to rise by more than six percent

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Austria: Because of inflation, Austrians are facing a hefty pension increase. With the inflation figures from July, the adjustment factor for the coming year is fixed, although politicians could also decide to go beyond this. This is precisely what the pensioners’ association is calling for. At the very least, there should be an increase of around 5.8 percent.

Relevant is always the inflation between August of the previous year and July of the current year. The final figures are not yet available for this month, but a quick estimate of Statistics Austria from today shows the inflation in July at 9.2 percent.

As the pensioners’ association has calculated, this results in an adjustment factor of 5.8 percent. However, this will not be sufficient by far, as federation leader Peter Kostelka in a dispatch stresses. He sees a value of ten percent as a “realistic basis for negotiation.” Social Minister Johannes smoke (Greens) had meant that the increase should go toward eight to ten percent even some weeks ago.

A plus of ten percent is with actual prices for the weekly purchase, which had risen recently to 15 percent, no insubordinate demand, underlined Kostelka on Friday.