"Risk of Misincentives": Court of Auditors Criticising the Insolvency Compensation Fund
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The Court of Auditors warns against falling reserves and possible misincentives to the insolvency compensation fund. At the latest in 2028, higher employer contributions are expected to become necessary. However, opinions differ widely on the right path. AUSTRIA. The insolvency compensation fund (IEF) secures open claims of employees when a company becomes insolvent. In 2024, 33,221 people submitted an application for the first time. A total of …
The insolvency fee fund is facing a financial problem – and the Court of Auditors is now succumbing. FPÖ economic spokesman Barbara Kolm therefore takes the loser's traffic light into account and calls for rapid protection of the fund. Court of Auditors sees reserves melt away In his report published today Friday, the Court of Auditors stated that the reserves of the insolvency fee fund have fallen sharply. The reason for this is, among other th…
“The ongoing debate about closing the funding gap in the insolvency compensation fund reveals the lack of a coherent plan on the part of the black-red-pink coalition government. Aside from fine-sounding announcements by ÖVP Chancellor Stocker and SPÖ Labor Minister Schumann, nothing tangible has happened so far,” said FPÖ economic spokesperson MP Dr. Barbara Kolm today in response to the Court of Auditors’ recent report, which critically examine…
Court of Auditors criticises Insolvency Fee Funds: As the system is designed, there is a risk of misincentives in some areas – an increase is required.
Graf: "The Insolvency Fee Fund needs to be reformed and financed sustainably with more accuracy and without any additional burdens on the companies." The report published today by the Court of Auditors on the Insolvency Fee Fund (IEF) clearly shows where action needs to be taken. In particular, the misincentives shown, possibilities for maximizing entitlements and structural weaknesses must be addressed quickly and consistently: "We have to star…
WIEN. The Insolvency Compensation Fund (IEF) threatens, as reported, to assume the money. According to forecasts, EUR 2027 160 million is missing. The Court of Auditors calls for an increase in the contribution rate by the employees.
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