Social Security Performance
The Austrian Pension Insurance offers the following:
a. |
a pension
for men at age 65 and for women at age 60, |
b. |
disability
benefits in case you are not able to work, |
c. |
survivor benefits, |
d. |
orphan benefits |
Men who were born before October 1st, 1952 and women born before
October 1st, 1957 who have contributed into the system for quite
some time can under certain conditions apply for pension benefits
ahead of the respective mandatory ages. In case an insured worker becomes so ill that it is apparent that
he or she will not be able to go back to work for quite a long time,
that worker can apply for disability benefits. Those benefits will
be granted on a limited basis and the amount of the benefits will
depend on the number and amount of paid contributions as well as
on the degree by which the income has been reduced.
In case of the death of a spouse the surviving spouse (depending
on the age) can receive survivor benefits. Under certain circumstances
these benefits can be limited.
In case one or both parents of a child die before the child turns
18, the surviving child can receive semi- or full orphan benefits.
If the surviving child is still in job-training or any other job-related
schooling the age limit will go up to 27.
Conditions
for receiving a pension
Next to the mandatory retirement age the following provisions (waiting
periods) for receiving a pension must be met: A minimum of 180 months of mandatory or voluntary contributions,
or
a minimum of 300 months including substitute periods,
or
a minimum of 180 months of contributions within 360 calendar months before
the commencement of pension payouts.
The waiting periods for receiving a premature pension are as follows:
A minimum of 240 months of mandatory contributions,
or
a minimum of 240 months of contributions within 360 calendar months before
the commencement of pension payouts.
To receive disability benefits or survivor benefits or orphan benefits,
the waiting periods are as follows:
A minimum of 180 months of mandatory or voluntary contributions,
or
a minimum of 300 months including substitute periods,
or
a minimum of 60 months of contributions within the last 120 calendar months
if benefits are to commence before the insured person reaches the age of 50.
For persons older than 50 the waiting periods extend in steps according to
the age of the insured.
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