{"id":11849780,"date":"2025-07-24T09:30:03","date_gmt":"2025-07-24T07:30:03","guid":{"rendered":"https:\/\/www.fma.gv.at\/?p=11849780"},"modified":"2025-07-29T18:29:10","modified_gmt":"2025-07-29T16:29:10","slug":"fma-report-barely-any-new-state-sponsored-retirement-provision-business-in-2024","status":"publish","type":"post","link":"https:\/\/www.fma.gv.at\/en\/fma-report-barely-any-new-state-sponsored-retirement-provision-business-in-2024\/","title":{"rendered":"FMA Report: barely any new state-sponsored retirement provision business in 2024"},"content":{"rendered":"<?xml encoding=\"utf-8\" ?><p class=\"wp-block-paragraph\">The market for state-sponsored retirement provision (PZV; pr&auml;mienbeg&uuml;nstigte Zukunftsvorsorge), a voluntary old-age provision product, has declined further in the past year. This continues the trend that has prevailed since the state premium was cut in 2012. These are the findings of the annual FMA Study on &ldquo;The market for state-sponsored retirement provision in 2024&rdquo;. The number of PZV contracts has fallen by more than half to around 782,000 during 2024 from an all-time high of more than 1.6 million in 2012, and is currently at a similar level as back in 2005, when PZV was introduced. While the number of newly concluded contracts increased marginally in 2024 to 8,077, as in the previous ten years this was insufficient for offsetting the number of expired or terminated contracts. Since PZV is a product with a very long lifespan, the annual premium inflows of approximately &euro; 637 million remained noteworthy, despite a decrease of 4.8 % compared to the previous year. The total assets under management fell by 0.75% to &euro; 8.69 billion (2023: &euro; 8.75 billion).<\/p><h2 class=\"wp-block-heading\">Only a few providers left<\/h2><p class=\"wp-block-paragraph\">The PZV market is a strongly concentrated one. Since investment fund management companies have already no longer been selling new PZV contracts for over ten years (and all of their contracts have also already matured in the mean time), out of the 19 insurance undertakings that offered this product during its boom phase, only four were still offering the conclusion of new contracts in 2024. A single insurance group, which also sold a large proportion of all new contracts, received more than half of the premium volume. The attractiveness as an investment and pension product has suffered considerably from the state premium having been cut significantly in 2012, as well as the weak investment results in the low-interest environment.<\/p><p class=\"wp-block-paragraph\">The full report can be found on the FMA website (in German only) at:&nbsp;<a href=\"https:\/\/www.fma.gv.at\/en\/publications\/study-praemienbeguenstige-zukunftsvorsge\/\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.fma.gv.at\/publikationen\/studie-praemienbeguenstigte-zukunftsvorsorge\/<\/a><\/p><h2 class=\"wp-block-heading\">Journalists may address further enquiries to:<\/h2><p class=\"wp-block-paragraph\">Boris Gr&ouml;ndahl (FMA Media Spokesperson)<\/p><p class=\"wp-block-paragraph\">Telephone: <a href=\"tel:00431249596010\" target=\"_blank\" rel=\"noopener\" class=\"external\">+43\/(1)249\/59-6010<\/a><\/p><p class=\"wp-block-paragraph\">Mobile: <a href=\"tel:004367688249995\" target=\"_blank\" rel=\"noopener\" class=\"external\">+43 676 8824 9995<\/a><\/p><p class=\"wp-block-paragraph\">E-Mail: <a href=\"mailto:boris.groendahl@fma.gv.at\" target=\"_blank\" rel=\"noreferrer noopener\">boris.groendahl@fma.gv.at<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>almost no new business in 2024 and fall in assets under management<\/p>\n","protected":false},"author":20,"featured_media":41297,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[80],"tags":[],"class_list":["post-11849780","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - 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