Regulatory Alerts2019-03-28
Company Pension Act (Betriebspensionsgesetz; BPG)
The Austrian Federal Parliament enacted this legislation to legally secure employer-provided pension commitments by mandating that benefits be channeled through regulated pension funds, occupational group insurance, or direct guarantees. The act establishes strict vesting schedules, contribution calculation rules, and absolute protections against the assignment or execution of pension expectancies. Upon employment termination, it grants employees the right to convert, transfer, or receive lump-sum compensation for their vested amounts across various approved domestic and foreign retirement institutions.
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