Voluntary pension fundsʼ assets up 7.5% in Jan-Sep

Voluntary pension funds belonging to the National Association of Voluntary Funds (ÖPOSZ) increased their assets by 7.5% in January-September from the corresponding period a year earlier, while health fundsʼ assets rose 10% in the same period, the association said, as reported by Hungarian news agency MTI. Payments by members rose 10% in both funds.

The assets of voluntary pension funds totaled HUF 1,121 bln at the end of September, the association said. The fundsʼ wealth rose 2.4% from Q2.

ÖPOSZ-member health funds had combined assets of HUF 47.5 bln at the end of September, rising 8.6% in three months.

Payments made directly by members into health funds reached HUF 3 bln at the end of September, rising 8.7% from the end of June. About 60% of health fund assets come from employersʼ contributions.

Voluntary pension and health funds have more than 2 million members. Members can apply for a tax refund of 20%, but at most an annual HUF 150,000, on individual payments they make into the funds. The maximum refund is HUF 280,000 for voluntary fund members who also pay into other pension-type savings.

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