The University of Natural Resources and Life Sciences (Boku) in Vienna has entered an agreement with retirement provider Valida, IPE reports. As per the deal, professors, along with academic and other assistants will get covered by the university's collective agreement and get pension on retirement.

Universities, including the University of Vienna, the Vienna University of Economics and Business and the Medical University of Vienna have already signed up with Valida. Universities are to pay 10% of new professors’ monthly gross wages into the pension fund, while for all other new employees, the contribution rate is 3%.

Click here for the story from IPE.