Pension Insurance

Pension insurance provides financial security for people who retire from working life due to age.

It also ensures that people who are no longer able to work due to illness or an accident can claim pension benefits at an early stage. Before these payments are made, however, preventive healthcare and medical rehabilitation measures are taken to prevent early retirement. Another type of benefit is the surviving dependants' pension, which is paid to relatives after the death of an insured close relative.

The minimum insurance period in Austria is currently 180 months of contributions (which corresponds to a period of 15 years). Of these, at least 84 insurance months (equivalent to 7 years) must have been acquired through gainful employment.

Persons born on or after January 1, 1955 have a pension account. The pension account makes the pension calculation easier to understand, it is simpler and more transparent. You can see the current account credit for your pension at a glance from the pension account and check the current balance of your personal pension account online at any time.

If pension insurance periods were acquired in another EU country or in a country with which an agreement exists in the area of pension insurance (PDF, 119 KB), these are taken into account when calculating the pension. If a pension entitlement exists, each country pays a separate pension as soon as the retirement age stipulated by the legislation of the respective country is reached.

The pension application must be submitted to the respective pension insurance institution in the country of residence of the insured person(s). It must be indicated that insurance periods have also been acquired abroad. It is not necessary to apply for a pension separately in each contracting state. The pension insurance institution to which the application was submitted automatically initiates the international pension procedure.