Old-age pension entitlement

Pension accounts

The pension entitlements of all individuals born from 1955 onwards are calculated on the basis of their pension account (Pensionskonto):

Every year, an amount equating to 1.78 of the annual benchmark contribution is paid into the pension account and added to the overall credit in the account. This total credit is then multiplied by an adjustment factor every year.

Bonuses

If you choose to defer claiming your pension until after you reach the standard pension age (which is 60 for women and 65 for men), your pension will be credited with a bonus of 5.1 per cent for each year of deferral, up to a maximum of 15.3 per cent of the total value of your pension.

Detailed information (in German only) about how the old-age pension is calculated, including calculation tables, can be found in the document “Pensionsberechnungen im Überblick” (Summary of Pension Calculations), produced by the Pensionsversicherungsanstalt (the name loosely translates as “Austrian Pension Institute”).

Further links

• Pensionsberechnung im Überblick Stand Jänner 2023 (→ PVA)^{German text}
• Pension benefits update 2024 (→ PVA)^{German text}