ADVERTISEMENT

Two private pension funds expected to survive

Analysis

The percentage of the members of private pension funds who have paid their dues came to 74% at Budapest Magánnyugdíj-pénztár and 70% at Horizon Magánnyugdíjpénztár, according to news reports on Friday; both amounts are above the limit set by the modified legislation, which came in to effect in January 2015. 

The legislation, widely regarded as an attempt by the government to pull the plug on Hungary’s private pension system, stipulates that any private pension fund in which active members, meaning those who pay fees in due time, falls below 70% for more than two months over a six-month period, will cease to exist.

ADVERTISEMENT

Manufacturing Purchasing Managers' Index rises Analysis

Manufacturing Purchasing Managers' Index rises

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

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.