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The increases will affect more than 700,000 people and cost HUF 123 bln in the 2027 budget, Kármán said.
Pensions between HUF 108,000 and HUF 125,000 will rise by HUF 12,000. Those between HUF 125,000 and HUF 130,000 will increase by HUF 10,000, while pensions between HUF 130,000 and HUF 135,000 will rise by HUF 8,000.
Pensions between HUF 135,000 and HUF 140,000 will increase by HUF 6,000. Payments between HUF 140,000 and HUF 146,000 will be raised to HUF 146,000.
The tiered increases will be calculated after the standard January inflation adjustment. Going forward, the minimum pension will rise each January by the same percentage as pensions generally.
The government will also increase the minimum orphan’s allowance, disability and rehabilitation benefits, and the allowance for people who do not meet the length-of-service requirements for a standard pension.
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