Securities ownership among the Austrian population remains on an upward trend. The latest survey of the "Aktienbarometer" – an annual survey carried out by the Federation of Austrian Industries, Aktienforum and Vienna Stock Exchange – shows that 31 percent of people in Austria invest in shares, bonds, investment funds and ETFs, continuing the steady upturn – almost one in three Austrians owns securities. Long-term wealth accumulation and private pension provision are thus already firmly rooted in society.
The survey conducted by Peter Hajek once again presents a clear picture: the Austrian population is increasingly relying on securities as part of their private pension provision. IV Secretary General Christoph Neumayer explains: "Despite a volatile stock market year in 2025, confidence in the capital markets has continued to grow. Long-term wealth accumulation and private pension provision are becoming increasingly important for more and more people – 81 percent mention wealth accumulation and 62 percent pension provision as key motives. One reason for this is the decline in confidence in the state pension: more than half of people are unsure whether it will be sufficient in the long term. At the same time, digitalisation, new forms of investment such as ETFs, and broader and simpler investment options have made investments more attractive."
"People who make private provisions and thus relieve the burden on the social security system should not be penalised for doing so. On the contrary, tax relief is needed, for example in the form of personal pension accounts. Working against this does not curb 'evil capital', but rather those who want to provide for their own future," Neumayer continues.
While other countries are focusing on an efficient capital market, Austria remains more than hesitant and is not exploiting its potential. Capital market-based pension instruments play a much smaller role here than in many other European countries. "While the Nordic countries, for example, invest much more heavily in capital market-oriented pensions, Austria's figure is negligible at less than 10 percent of GDP. Yet the topic has already reached the centre of society: 1.3 million people who earn less than EUR 3,000 net own securities. People are already much further ahead, while politics continues to lag behind," says Angelika Sommer-Hemetsberger, President of the Aktienforum.
"A modern pension system generates returns for people, capital for companies and relieves the burden on the state. We can no longer ignore this win-win-win opportunity. While Sweden, Denmark and Poland are putting billions in productive assets for the future and Germany is launching pension accounts with tax advantages, Austria is refusing to supplement the pay-as-you-go model. 340 billion euros are parked in this country as cash or in interest-free savings accounts. What Austria lacks is not knowledge, but the courage to make systemic decisions that will secure our prosperity in the long term," says Christoph Boschan, CEO of the Vienna Stock Exchange.
An efficient capital market is not only crucial for private pensions, but also for innovation, growth and employment. Companies need equity capital to finance new technologies, business models and transformation. The capital market and the social system are therefore not contradictory, on the contrary: they are interdependent.
Key findings of the study
- Securities ownership in Austria continues to rise. Around 31% of the Austrian resident population aged 16 and over own securities, which corresponds to around 2.4 million people.
- Among securities owners, investment funds/ETFs (24%) and shares (18%) are the most common forms of investment. Bonds (11%) play a significantly smaller role, but also show a significant increase compared to previous years.
- In addition to current owners, there is considerable potential among around 19% of the population who consider investing in securities in the future (approximately 1.4 million people).
- Many respondents rate their knowledge of securities as rather low or mediocre. A lack of financial knowledge therefore continues to be a major hurdle to greater participation in the capital market.
- People who are not interested in securities are particularly risk-averse.
- One of the most important reasons for investing in shares is pension provision. More than half of those surveyed doubt that the state pension alone will be sufficient. Younger age groups in particular are therefore placing greater emphasis on additional private provision.
