This article was translated from Arabic. Read the Arabic original
Austria Now News – Vienna
Finance State Secretary Barbara Eibinger-Miedl of the People’s Party (ÖVP) on Tuesday defended restricting payments into the new children’s savings account Zukunftsdepot to parents or legal guardians, following criticism over the exclusion of grandparents and godparents – contrary to what Chancellor Christian Stocker had promised.
The government’s justification
Eibinger-Miedl told a press conference, according to vol.at, that negotiations and technical talks had shown the need for a bank account linked to investments, and that this account is held by those responsible for the child’s care, usually the parents. She added that parents are the ones who make investment decisions for their children, and that grandparents usually provide money via the parents even today. According to Der Standard, the guardians are “ultimately responsible” for the account.
What does the draft provide?
Every child born from 1 January 2027 will receive initial capital of 500 euros from the state. Up to 5,000 euros can be paid in per year, exempt from capital gains tax (KESt) until the age of majority, and the money cannot be withdrawn before the age of 18. Banks are scheduled to start offering the account from July 2027, following a mandatory consultation between the parents and the bank, which can also be held digitally.
To receive the 500 euros, Austrian citizenship or an equivalent legal status is required, as well as proof of 15 years of legal residence in Austria before the child comes of age, according to vol.at. The draft is open for consultation until 9 November and has not yet been adopted.
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Sources
- Der Standard: Warum nur Erziehungsberechtigte in das Zukunftsdepot einzahlen dürfen – 03.11.2026 – derstandard.at
- VOL.AT: Nur Eltern dürfen ins Zukunftsdepot einzahlen – 03.11.2026 – vol.at
