Austria has a comprehensive and generous social security system in place. Extensive measures are undertaken, including preventive care in health matters. Social services are geared mostly towards the elderly and people in need of care, persons with disabilities, the homeless, people in crisis situations (financial and social distress). Special support is also awarded to families and children.
Employees receive a number of benefits including pension, unemployment insurance and healthcare benefits. Every employee in Austria has a legal claim to at least five weeks' paid holiday per annum. If an employee falls ill, he or she either continues to be paid full wages or receives sick pay from the social insurance scheme.
Child labour is prohibited. Young people, women and mothers enjoy special protection as employees. Labour inspectors monitor compliance with the regulations applicable to the place of work (including measures to combat industrial disease and industrial accidents). A state benefit is payable on the birth of a child. Persons with their domicile in Austria who provide for children are also eligible to receive children's allowances.
Update 16/05/2009
Keep more of your money when transferring funds overseas!
If you want to move money abroad, from Austria or to Austria for example, Fexco provides efficient and secure global bank to bank transfers and bespoke payment solutions for both business and personal clients.
Why Fexco
Fexco provides a secure international money transfer service online or by telephone with bank beating fx rates and low fees. Specialises in high-value transfers.
Main characteristics
Fexco will help you to keep your overseas money transfer costs to a minimum.
| Margin | 0.6% |
|---|---|
| Regulator | FCA |
| Fee | £10 < £5K or Free > £5k |
| Mini | £1K |
| Ccy | All (130 currencies, incl ‘exotics’) |
| Services | Repatriation of funds, Property, Regular payments, High Value payments, spot, online, telephone. |
Get an online quote today
When you are ready to make your transfer, John and his team will be available to help you with better rates and an unrivalled service to make sure your funds are delivered securely and speedily.