The Austrian Financial Market Authority (FMA) has published its latest study on the performance of state-sponsored retirement provision (PZV; prämienbegünstigte Zukunftsvorsorge). It states that the long-term fall in the number of contracts also continued in 2025. At the same time the assets managed profited from the positive performance of the capital markets.
Only four insurance undertakings still offered new PZV contracts in 2025. As at year-end 2025, they managed around 729,000 contracts. This represents a decrease by 6.7% compared with the previous year. The amount of new business also decreased: there were 7,223 newly concluded contracts, 10.6% down from the previous year. The number of newly concluded contracts continues to be insufficient for making up for contracts that were expiring or which had been redeemed. The FMA continues to assume that the number of contracts will continue to fall in the future.
Despite the falling number of contracts and the lower inflow of premiums, managed assets nevertheless increased by 6.8% to €9.27 bn. The positive capital market conditions were the reason for this. The volume-weighted overall performance of insurance undertakings stood at 13% before costs in 2025.
The full report can be downloaded (in German only) from the FMA website at fma.gv.at/publikationen/studie-praemienbeguenstigte-zukunftsvorsorge/.
Journalists may address further enquiries to
Boris Gröndahl (FMA Media Spokesperson)
Telephone: +43/(1)249/59-6010
Mobile: +43 676 8824 9995
E-Mail: [email protected]