Juhász said that between 3% and 5% of those withdrawing from the private pension-fund system requested to transfer their real yields to voluntary pension funds, while the remaining few requested to have the yields transferred to personal social-security accounts.
Only 100,000 of the 3 million Hungarian private pension-fund members elected to remain in the funds following the government’s restructuring of Hungary’s private pension-fund system earlier this year. Juhász said that 2.3-2.5 million of the 2.9 million Hungarians who withdrew from the funds generated real yields during the existence of the mandatory private pension system in the last more than ten years.
Juhász noted that the association’s data is based on the processing of several thousand statements regarding the return from mandatory private pension-funds to the state pension system.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
