Home loan savings, pensions, transfers | Money and finance: What will change in 2024

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The premiums for home loan savings and state-subsidized retirement provision (“Zukunftsvorsorge”) will remain unchanged in 2024. The home loan and savings premium will again be 1.5 percent, while the premium for future provisions will remain 4.25 percent. In the coming year, a maximum deposit of 1,200 euros per year will also be subsidized for building society savings, with a maximum premium of 18 euros.

The maximum possible subsidy for future provisions, on the other hand, will increase slightly. The upper limit for subsidized payments is linked to the ASVG maximum contribution basis. According to the Ministry of Finance, the maximum possible payment for a subsidy in 2024 is EUR 3,337.85 (2023: EUR 3,222.18); the maximum subsidy is EUR 141.86 (2023: EUR 136.94).

Real-time transfers are becoming the standard
There will also be another innovation in banking transactions: transferring money from one account to another without waiting days will become much more accessible in 2024. The EU Commission wants real-time transfers to become the standard in Europe in the course of next year. They must then no longer be more expensive than standard transfers, which are usually free of charge. The EU rules are expected to come into force before the parliamentary elections in April. Banks will then have six months to implement them.

In addition, all banks will be obliged to offer fast transfers at all times. Standard transfers usually take one working day, whereas real-time payments take up to ten seconds.

Instant payments have been technically possible in Europe since 2017. However, according to the EU Commission, only eleven percent of transfers were executed as real-time payments at the start of 2022. Around a third of banks do not even offer this option yet. The EU member states and the European Parliament are negotiating the European Commission’s proposal.

  • source: kleinezeitung.at/picture: pixabay.com
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