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Pension inequality continues to grow

The gap between the smallest and the largest pensions is widening in Hungary, with nearly 21,000 elderly Hungarians receiving pensions below HUF 50,000 per month while nine people have pensions exceeding HUF 2 million, according to a report by daily Népszava.

The report says that the first pensioner receiving more than HUF 2 mln per month appeared in 2016. Calculating with the minimum pension of HUF 28,500, the difference is at least seventyfold. However, the highest pension may be even greater, as the treasury notes that in accordance with data protection regulations, only the combined total of all those who receive at least HUF 2 mln is given.

At the same time, 96% of those who receive less than HUF 28,500 per month hold rights to a pension in another country, in accordance with international agreements. Some 28% of those who receive at least HUF 28,500, but less than HUF 50,000, also have pension rights in another country.

The vast majority of the two million pensioners in Hungary receive between HUF 50,000 and HUF 299,999 per month. About 530,000 pensioners fall in the HUF 50,000-99,999 range monthly, while approximately 810,000 pensioners get HUF 100,000-149,999. Around 370,000 people get between HUF 150,000 and HUF 199,999 per month, while 220,000 people receive a monthly allowance in the HUF 200,000-299,999 range.