This article was translated from Arabic. Read the Arabic original
Austria Now News – Vienna
Grandparents and godparents (Paten) will not be able to pay directly into the new “Zukunftsdepot” savings account for under-18s, contrary to what Austrian Chancellor Christian Stocker of the ÖVP had promised, according to the draft law currently under review.
Account held by those with custody
Under the draft, only the minor’s legal representatives – usually the parents – are entitled to open the account. State Secretary Barbara Eibinger-Miedl of the ÖVP defended the rule at a press conference on Tuesday, explaining that negotiations and technical consultations had shown the need for a linked account through which the investment is processed.
She added that this account is held by those with custody, usually the parents, who make investment decisions on behalf of their children.
Grandparents’ gifts via the parents
According to Eibinger-Miedl, in practice grandparents who wish to give their grandchildren money have so far mostly done so via the parents. In practical terms, this means relatives who want to support a child’s savings will need to pass the money on to the parents.
The Austrian government sent the Zukunftsdepot draft for review at the end of October. It provides for a state starting bonus of 500 euros for children born from 1 January 2027, with the option of saving up to 5000 euros a year tax-free until the age of 18.
Austria Now News – always keeping you up to date.
Sources
- news.ORF.at – „Zukunftsdepot“: Nur Obsorgeberechtigte dürfen einzahlen – 03.11.2026 – https://orf.at/stories/3446969/
- Austria Now News – Earlier report on the Zukunftsdepot – 30.10.2026 – https://austrianownews.com/?p=45640
