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Austria

Employee Benefits Report

Product Employee Benefits Reports Rev Austria

Key Highlights

Get access to Axco’s online product for a comprehensive understanding of employee benefits in Austria

  • Details of the state and compulsory benefits
  • Insight into typical market practice
  • Examines changes to the costs and benefits of social security and mandatory benefits requirements
  • Demographic and economic information including projections
  • Mandatory pension provision, normal and parental leave and other state benefits
  • Details of applicable taxation
  • Extensive geopolitical and operational risk analysis

Report Overview

Comprehensive employee benefits information for Austria. Details mandatory benefits and plans as well as typical market practice. Includes data on pensions and retirement benefits, employee leave and termination indemnities.

Axco's employee benefits report for Austria provides expert analysis of the Austrian benefits landscape, detailing state and compulsory benefits and local market practice across necessary to know when employing staff in Austria or thinking of entering the market.

The comprehensive report is produced by a dedicated research team with years of experience in international employee benefits. The report outlines all key benefits in Austria, including insight into changes to the costs and benefits of social security and mandatory benefits requirements, as well as typical employer practice. Information and necessary details on new legislative mandates are regularly updated to ensure you remain compliant.

Suitable for international employee benefits consultants, brokers or corporates looking at establishing business in Austria, the report outlines the employment benefits requirements for your employees in Austria. Coverage extends to retirement benefits, death in service benefits, long-term disability, medical benefits, workers compensation, personal accident insurance, termination indemnities, maternity benefits & maternity/paternity benefits and other employee and state benefits.

Axco analysts also report on the economy of Austria, the local political situation, and climate, operational, and security risks.

Austria Report Extract

Below is a very brief extract of information from the Austria Employee Benefits Report; more updated information may be available in the latest published report.

Retirement

Benefit Provider

State & Compulsory Benefits

Retirement benefits are provided through pension insurance, administered by the Pension Insurance Institution (Pensionsversicherungsanstalt - PV). The PV is the largest pension insurance provider (other providers cover employees in certain professions, such as railway employees, miners and public sector employees). In addition, a partial pension is provided through unemployment insurance (see Unemployment section for detail).

Employers may be required to provide termination indemnities when the employee leaves service for any reason (see Termination Indemnities section for detail).

Typical Employer Practice

Around 50% of employers provide supplementary retirement benefits; benefits are provided through the following retirement plans:
Pension funds (Pensionskassen - PK), Occupational group insurance plan (betriebliche Kollektivversicherung - BKV), …

The report contains more information on retirement benefits in Austria including Benefit Provider; Type of Plan; Eligibility; Retirement Age; Pensionable Salary; Vesting and more



Termination Indemnities

Benefit provider

State & Compulsory Benefits

Termination indemnities are provided through the Employee Income Provision Scheme, administered through an Employee Provident Fund (Betriebliche Vorsorgekasse - BV-Kasse), For employment contracts prior to 1 January 2003 termination indemnities (severance pay) …

Typical Employer Practice

Employers may provide supplementary termination indemnities…

More information on Eligibility; When Benefit is Paid; Benefit details and the associated Taxation applicable to termination indemnities is available in the report.

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