La mochila Austriaca

In recent years, changes in labor relations have undergone profound modifications. Among them the colloquially called Austrian backpack. It is a system implemented in Austria in 2003 that basically consists of establishing an individual capitalization fund for each worker, nurtured by monthly contributions in proportion to salary. This fund belongs to the worker and can take it with him when he changes companies, as well as rescue it when he loses his job or retires. The fund is managed by private companies that charge a commission for it. Said fund replaces severance pay and can constitute a contribution to the worker's pension fund. This system has earned the interest of many. In Spain, it has been proposed by important private labor relations advisory institutions, and has attracted the attention of different political parties, which have raised it in their action plans (PP, PSOE and Ciudadanos). The Austrian backpack has important consequences for labor relations. It is necessary to deepen its effects on workers and companies. Analyze what it means for severance pay, for pensions and privatization projects, how it is going to be financed, how funds are guaranteed, etc. Our analysis shows that the introduction of the backpack can be very negative for workers.