ADVERTISEMENT

Parliament passes law phasing out early retirement

In Hungary

Legislation approved by Hungary’s parliament with a vote of 257:97 on Monday eliminates the possibility of early retirement from January 1, 2012.

The early pensions paid at present will be financed from the central budget rather than from the social security fund.

Former police officers, other law enforcement and disaster management staff under 57 who used to be eligible for early pension will pay personal income tax on their pension if they decide against returning to work. This pension, however, cannot be lower than 150 percent of the minimal wage.

Women with 40 years of work who can retire early under a recent legislative amendment will remain an exemption.

ADVERTISEMENT

Rate-setters augur slower decline in CPI in 2022 Analysis

Rate-setters augur slower decline in CPI in 2022

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 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.