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Pensioner coops employ more than 20,000

The legal form of cooperative was introduced in Hungary in 2017 to keep retired people economically active and fill shortages in the labor market. It allows members to receive income from work alongside their old-age pension, and also benefit from preferential taxation.

The president of the National Interest Association of Pensioners’ Cooperatives, Attila Dolgos, said there are a total of 150 registered pensionersʼ cooperatives. Currently the association has 18 active members and employs more than 20,000 retired people.

Cooperatives create a social space for elderly people where they can engage in networking and participate in programs if they are interested. Cooperatives help businesses in taking over the tasks of administration, recruitment, organization and reporting, notes business news site mfor.hu.