Pension account
Definition
The Pensionskonto (pension account) is the personal account on which the statutory pension has been built up since 2005 (Allgemeines Pensionsgesetz, APG). It covers everyone born on or after 1 January 1955 and insured under the ASVG, GSVG or BSVG. Anyone with insurance periods before 2005 received an initial credit, the Kontoerstgutschrift, on 1 January 2014 (§ 15 APG): the value of the periods up to the end of 2013, comparing old and new law. Since then the account grows each year by a partial credit, and the balance so far is revalued with wage growth. The balance at the start date gives the pension.
Revaluation factor since 2005
A year's factor revalues the balance at the end of the previous year; it measures how much the average contribution base rose two years before. Child-raising: the monthly contribution base credited for each month of child-raising, raised each year by the factor since 2006. 2027: ÖGK's expected value until the official notice (provisional).
How it is calculated
- Partial credit: 1.78 % (the account rate) of all contribution bases of a year: salary including the 13th and 14th, child-raising, unemployment benefit, military or civilian service and other periods. At most the annual contribution ceiling counts, 420 daily ceilings, in 2026 420 × €231.00 = €97,020.00. The highest partial credit in 2026 is therefore €1,726.96 (§ 12 (1) and (2) APG).
- Revaluation: At the end of each year the balance so far is multiplied by the following year's revaluation factor (Aufwertungszahl, § 108a ASVG) and the new partial credit is added. The factor follows the average contribution base, i.e. wages, two years behind. In the year the pension starts there is no revaluation (§ 12 (3) APG).
- Total credit: The sum of all revalued partial credits plus any initial credit (Kontoerstgutschrift). It is shown in the yearly account statement and at neuespensionskonto.at.
- Pension: Total credit at the start date ÷ 14 gives the monthly gross pension at the statutory age, paid 14 times a year (§ 5 (1) APG). Earlier or later, the amount falls or rises; see retirement age.
Example: gross €4,230/month, balance €30,000 (2026)
A salary of €4,230 gross a month, the middle full-time salary of 2026 (forecast), 14 times a year, and a balance of €30,000 at the end of 2025. The pension in the last row is the gross pension this balance would give on retiring at the statutory age at the start of 2027.
See also
- Retirement age, how reductions and increments change the pension from the account.
- Contribution ceiling, the cap on the partial credit.
Sources: §§ 1, 5, 11, 12 und 15 APG und Anlage 2 APG; § 108a ASVG (Aufwertungszahl) mit den jährlichen Kundmachungen im BGBl II; ÖGK für den voraussichtlichen Wert 2027; Pensionsversicherungsanstalt, Pensionskonto (RIS, pv.at).