The assets managed by the eight Austrian occupational provision funds (OPFs) stood at € 16.6 billion at the end of 2022. The amount increased by € 145.4 million or 0.89% compared with the previous year. This was despite the fact that investment performance was -7.73% during the reporting year as a result of the volatile financial and capital market environment. The average yield in the past ten years has been +1.31% p.a. The number of beneficiaries (entitled) (including multiple benefits are multiple OPFs) rose to 10.5 million during the reporting year. As of 31.12.2022, the average amount of an entitlement stood at approximately € 1,579. These are the findings on the FMA’s Annual Report on Occupational Provision Funds for 2022 that was published today.
Investment strategy based on security and liquidity
The obligatory capital guarantee combined with fluctuating payment requirements in line with the development of the employment market require, also by law, an investment policy that pays particular attention to security and liquidity. As of the end of 2022, occupational provision funds primarily invested their assets managed in debt securities (61.64%), cash at banks (12.54%), shares (10.43%), real estate (7.10%) as well as loans and credits (4.31%), with the remaining amount (3.98%) in other assets. Compared with 2021, during the reporting year the amount held in shares fell by 9.9 percentage points, while, in contrast the cash at banks (+3.26 percentage points) and the portfolios in debt securities (+2.78 percentage points) as well as loans and credits (+2.04 percentage points) all increased.
OPFs are required to form a capital guarantee reserve to cover the guarantee prescribed under law on the paid-up capital. At the end of 2022, depending on the OPF, they stood between 0.46% and 1.00% of the total amount of entitlements, or 0.7% on average.
The “2022 Annual Report on Occupation Provision Funds” „Jahresbericht 2022 Betriebliche Vorsorgekassen“ can be found on the FMA website (in German only) at: https://www.fma.gv.at/pensionskassen/offenlegung/quartalsberichte/ Starting in 2023, the FMA will also publish quarterly reports about the performance of OPFs.
Journalists may address further enquiries to:
Klaus Grubelnik (FMA Media Spokesperson)
+43 / (0) 1 / 24959-6006
+43 / (0) 676 / 88 249 516