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The federal government announced on Tuesday that pensions will rise by the statutory adjustment factor in the coming year, between 4.5 and 4.7 percent. The equalization supplement will also increase by the same amount. The protection clause for the pension account will be extended by one year, and the quotation of the first pension increase will remain suspended
With this announcement, the government has taken the lead this time. This is because the statutory adjustment factor – calculated based on average inflation from August 2023 to July 2024 – has not yet been determined. However, experts estimate the cumulative annual inflation will be between 4.5 and 4.7 percent.
Average pension increases by over 70 euros
Example. The average pension of 1,694 euros gross per month would rise by around 78 euros per month. Chancellor Karl Nehammer (ÖVP) and Vice-Chancellor Werner Kogler (Greens) expressed their satisfaction with the agreement.
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