The majority (88 per cent) of working-age Austrian women believe they cannot live well on the state pension, highlighting concerns about retirement and little confidence in the state pension system, research from Spectra had revealed.

The research, commissioned by Valida Vorsorge Management, showed that, on average, women expect their future pension disposal amount to be €1,669 per month, which is above the current reality reported by Statistics Austria, of €1,409 per month on average for an Austrian woman’s pension.

Meanwhile, for men, the typical monthly pension amount is €2,374.

Valida Vorsorge Management member of the board of directors, Elisabeth Radocha, highlighted that the Equal Pension Day in Austria is approaching, the day on which male pensioners have already received as much income as female pensioners have received for the entire year.

“The fact that this day falls on August 7 this year shows that many retired women face major financial challenges,” she said.

“In order to improve the situation of future pensioners, financial provision – and in particular occupational pensions – is of great relevance. Because a supplementary pension from the second pillar enables women to lead a self-determined life in old age."

The study also examined working-age women's opinions on the current Austrian reform proposals and found mixed support.

The partial pension, which has been decided, allows individuals who are eligible for a pension to continue working reduced hours starting in 2026 while also being allowed to draw a portion of their pension.

This reform is welcomed by seven out of 10 women, but two-thirds of women reject the increase in the retirement age.

The research also highlighted support for measures to promote occupational pensions, as 88 per cent of women said they approve of this.

In addition to this, 75 per cent are calling for a mandatory company pension solution, and 63 per cent of men agree with this demand.

The research also showed that 51 per cent of women surveyed welcomed pension splitting, where a working parent can transfer parts of his or her entitlements to state pension benefits to the partner who has devoted himself or herself to raising children for a longer period.

Valida said that this is “a good option” for mothers in part-time employment or maternity leave, but it is rarely used.

However, the research found that 18 per cent of female respondents are against it.

Radocha emphasised the importance of early pension provision for women, particularly when selecting an employer that provides a pension fund option.

She said that if an employer already offers this, there may be an opportunity to enhance company benefits through personal contributions.

“Unfortunately, a striking number of women work in professional sectors whose collective agreements do not regulate company pension solutions,” she continued.

“My wish would be to improve the collective agreements in such a way that all employees benefit from a later supplementary pension."

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