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In addition to state and company pension provision, it is becoming increasingly important to have private reserves to cover your well-deserved retirement. Various solutions (e.g. with and without state contribution) are available for this so-called third pillar of retirement provision.
The following applies to all of them:
The earlier you start, the more you will get later. The investment period plays a decisive role. The longer you choose, the better the so-called compound interest effect, that is, the increase in your capital regardless of the amount paid in. Savings periods of 20 to 30 years or even longer are usual οΎ– only those who save for this long can accumulate large assets from "small" contributions and make an attractive supplement to their pension.
Summary of provisions with and without state contribution
| Feature |
With state contribution |
Without state contribution |
| Investment |
unlimited |
unlimited |
| Investment flexibility |
partially restricted |
full flexibility |
| State bonus |
yes, is reset every year |
no |
| Capital guarantee |
yes, for most investments |
no |
| Payouts |
usually only as additional pension |
freely selectable |
| Access before end of investment period |
not possible |
any time |
| Investment |
min. 40% in (predominantly) Austrian equities |
depending on form of investment selected |
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What opportunities does ERSTE-SPARINVEST offer?
Provisions WITH state contribution - ESPA VORSORGE CLASSIC
Provisions WITHOUT state contribution - ESPA PORTFOLIO TARGET
Whereas the basic features are predetermined in the case of retirement provision WITH state contribution
and there are therefore few (or even only one) investment options available, choosing retirement provision
WITHOUT state contribution allows you to choose from the whole ESPA fund range.
The trained investment advisors at Erste Bank and Sparkasse can compile a made-to-measure solution for each
customer in the area of personal pension provision.
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