Abfertigung neu Calculator: Austrian Severance Fund (1.53%)
Estimate your Abfertigung neu: the employer pays 1.53% of gross pay into a severance fund every month; see the balance, the 6% tax and when it is paid out.
On resignation the balance is not paid out but carried to the next employer. Leaving it in the fund or converting it into a pension is tax-free. Actual balances depend on the fund's fees and returns; ask your Vorsorgekasse for the exact figure.
What it does
For jobs that started from 2003 Austria uses the Abfertigung neu: from the second month the employer pays 1.53% of the gross pay, including the 13th and 14th salaries, into an employee severance fund (Vorsorgekasse). After at least 3 years of contributions and an ending of the job that is not a resignation, the balance can be paid out, taxed at 6%, or kept tax-free as a pension.
How to use it
- Type your monthly gross salary and the number of salaries a year.
- Type the years and months with this system and, if you like, a fund yield.
- Read the estimated balance and the amount after tax.
The arithmetic runs in your browser. Nothing you type is sent anywhere and nothing is stored, so you can use these with real numbers.
Frequently asked questions
How much is in the fund after 10 years on €3,000?
1.53% of €3,500 (14 salaries ÷ 12) is €53.55 a month; 119 months give about €6,372.45 without returns, €5,990.10 after the 6% tax.
When can I get the money?
After 36 months of contributions, if the employer ends the job, by mutual agreement or on retirement; not on your own resignation.
Is it taxed?
6% if paid out as a lump sum; nothing if it stays in the fund or becomes a pension.
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