The Austrian Financial Market Authority has published its latest report on the development of premium-subsidized Zukunftsvorsorge (PZV), showing that the long-running decline in contract numbers continued in 2025 even as managed assets increased on the back of stronger capital markets. The report indicates that the product base kept shrinking because new business remained too weak to replace contracts that expired or were cancelled. Only four insurance undertakings still offered new PZV contracts in 2025. They managed about 729,000 contracts at year-end, down 6.7% from a year earlier, while new business fell 10.6% to 7,223 contracts. The authority expects contract volumes to continue declining. Despite lower contract numbers and reduced premium inflows, managed assets rose 6.8% to EUR 9.27 billion, supported by positive market conditions, and the insurers' volume-weighted overall performance reached 13% before costs.
Austria Financial Market Authority2026-07-27
Austrian Financial Market Authority publishes report showing continued decline in Zukunftsvorsorge contracts, assets rise to EUR 9.27 billion
The Austrian Financial Market Authority reported that contract numbers for premium-subsidized Zukunftsvorsorge continued to fall in 2025, with 729,000 contracts outstanding and new business down to 7,223. Managed assets still rose 6.8% to EUR 9.27 billion as positive market conditions lifted volume-weighted performance to 13% before costs.