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Pensionskassengesetz – PKG

Pensionskassen Law (2022 version)

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Summary

The "Pensionskassengesetz – PKG" was introduced in 1990 as a law regulating pension funds. The law was designed to establish a framework for the establishment and operation of pension funds, with the aim of providing workers with additional retirement benefits beyond those provided by the state pension system. Under the PKG, employers are required to contribute to a pension fund for their employees, either by setting up their own pension fund or by joining an existing one. The law sets out detailed requirements for the operation of pension funds, including rules on investment strategies, risk management, and reporting and disclosure. The PKG also established the Pensionkassen Control Commission, which is responsible for overseeing the operation of pension funds and ensuring that they comply with the requirements of the law. The Commission has the power to impose sanctions and penalties on pension funds that fail to comply with the law, including fines and the revocation of their operating license.

Thumbnail image for The "Pensionskassengesetz – PKG" was introduced in 1990 as a law regulating pension funds. The law was designed to establish a framework for the establishment and operation of pension funds, with the aim of providing workers with additional retirement benefits beyond those provided by the state pension system. Under the PKG, employers are required to contribute to a pension fund for their employees, either by setting up their own pension fund or by joining an existing one. The law sets out detailed requirements for the operation of pension funds, including rules on investment strategies, risk management, and reporting and disclosure. The PKG also established the Pensionkassen Control Commission, which is responsible for overseeing the operation of pension funds and ensuring that they comply with the requirements of the law. The Commission has the power to impose sanctions and penalties on pension funds that fail to comply with the law, including fines and the revocation of their operating license.
Issuer

Austria

Year

1990

Region

Europe

Issuer (type)

Federal Ministry of Labour, Social Affairs and Consumer Protection (Government)

Policy Type

Other sustainability policy

Geographical scope

National

Mandatory or voluntary

Mandatory


Main industries targeted
  • Finance & Insurance
  • Arts, Entertainment, & Recreation
  • Professional, Scientific, & Technical Services
  • Public administration
Restrictiveness

Low

Sustainable Development Goals (SDGs)
  • SDG 1: No Poverty
  • SDG 2: Zero Hunger

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