The Austrian population is getting older – life expectancy is rising and more and more children are being born; at the same time, spending a longer time in education and moving only later into professional life mean there is less time to pay contributions. More precisely, this means that a falling number of actively working people have to finance the pensions of a rising number of pensioners. It is quite obvious that the contributions-based pension system based on the General Social Security Act (ASVG) is no longer able to secure our standards of living moving forward, and now represents a kind of basic pension.
Provident insurance, occupational group insurance and pension plan reinsurance are all products of Bank Austria Creditanstalt Versicherung AG.,
Pension fund and "Abfertigung Neu" (new severance pay rules) are products of VBV Pensionskasse AG and VBV Vorsorgekasse AG, Obere Donaustraße 49-53, 1020 Vienna.
In addition to its primary business activities, UniCredit Bank Austria AG acts as a contractually bound insurance agent in the life and accident insurance segment for Bank Austria Creditanstalt Versicherung AG, ERGO Center, Businesspark Marximum/Objekt 3, Modecenterstraße 17, A-1110 Vienna, and in this capacity is authorised to accept premiums from and funds to be paid to customers; insurance broker registry number VVM-12000-00.
UniCredit Bank Austria AG also acts as a contractually bound insurance agent for home contents and home insurance products in the property and liability insurance segment for ERGO Versicherung Aktiengesellschaft, ERGO Center, Businesspark Marximum/Objekt 3, Modecenterstraße 17, A-1110 Vienna, in addition to its primary business activities.
Before taking out occupational life insurance (provident insurance, occupational group insurance and pension plan reinsurance) please consult with your tax adviser about the tax consequences. We also recommend looking into any possible labour law implications.