More than HUF 2,800 billion in private pension fund assets are being transferred to the state pension pillar, pension fund association Stabilitás said on Thursday, citing preliminary data two days after the valuation date for the transfer.
The real yields on the fund, which pension members may ask for in cash, are expected to come to HUF 260 billion the association said.
About 97% of Hungarians decided earlier in the year to return to the state pension pillar under a government initiative.
The process of transferring the assets to the state’s Pension Reform and Debt Reduction Fund, has started, in line with the plan, Stabilitás said. The transfer was slated to take place between June 1 and 12.
Assets of private pension funds came to HUF 3,162 billion on March 31. Hungarian government securities accounted for the biggest part of the portfolio.
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