AUSTRIA: REVIEW OF PENSION FUND MARKET
Article Abstract:
The assets of Austrian pension funds are expected to increase by 30% in year 2000. In 1999 they surged 47.4% to Sch 101bn, as a number of big companies hived off their pension funds. About 231,000 people (up 14.9% from 1998) were covered by the 18 pension funds in 1999. Thus about 10% of Austrian employees are covered. Dietmar Neyer, head of the Austrian pension fund association, expects the share to rise to 30% in the medium term. Seven of the 18 pension funds serve more than one employer. In 1999 the number of employers with pension fund schemes in Austria increased by 854 to 5,674. In 1999 Austrian pension funds paid out Sch 2.1bn (up 23.5%) in pensions to about 28,000 people (up 14.3%).
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
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AUSTRIA: REVIEW OF PENSION FUND MARKET
Article Abstract:
A representative of the Wirtschaftskammer estimates that at the end of year 2000 the assets of pension funds in Austria might reach Sch 120mn, up from Sch 101bn a year earlier. Pension funds were introduced in Austria in 1990. In 1999 they gained contributions of Sch 25.6bn, while payments amounted to Sch 3.1bn. Pension funds account for 11% of old-age pensions paid in Austria.
Publication Name: Presse
Subject: Business, international
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Year: 2000
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AUSTRIA: WINTERTHUR INTERESTED IN APK
Article Abstract:
In Austria, the pension fund Winterthur Pensionskasse is interested in taking over the competitor APK. Winterthur has submitted a takeover bid for the stake of 25% plus one share which "might possibly" be privatised. At the end of 1999, APK managed assets of Sch 20bn for 57,000 clients.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
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