Hungary’s pension age is currently 62, but, because of the number of people who take early retirement, the average age when Hungarians stop working is 58.6, Korózs said. Early retirement is part of the reason for Hungary’s low workforce participation rate: 58%, well under the 63% EU average. And Hungary’s workforce participation rate for women is an especially low 49.7%, he added. Employee pension contributions currently cover just 80.5% of pension payments. The rest comes from tax revenue. (MTI-Econews)
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