PM says from now on private pension fund contributions to be transferred to state
Prime Minister Viktor Orban said on Friday morning that private pension fund contributions will from now on be transferred to the state pension fund.
Speaking on a public radio programme, Mr Orban said private pension fund contributions will now always be transferred to the state pension fund. He said this was not a one-off decision and that the 10% contributions paid by the approximately 100,000 people who stayed in the private pension funds will always go to the state pension fund and "this will now stay like this".
Economy minister Gyorgy Matolcsy announced on Thursday that a HUF 302bn adjustment to original 2012 budget plans will include HUF 120bn from the pension contributions of those who remained in private pension funds, adding that the private pension membership fees will probably redirected in 2013 too.
Mr Orban emphasised that the main figures of the 2012 budget are expected to remain unchanged and the government will try to keep to the original schedule for adopting the budget.
ADVERTISEMENT
Mapei Targets 6% Higher Revenue This Year
Parliament Negates Mandatory Membership in MOK
Hungary to Roll out Online Price Monitoring System
Hungary Rolls out Labeling Practices for Insect-based Foods
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.
