Voluntary Pension Fund Contributions Climb 20% in Q1

Voluntary pension fund contributions rose 20% year-on-year to HUF 34.6 billion in the first quarter, state news wire MTI writes, citing data released by the National Bank of Hungary (MNB).

Contributions by members increased 18% to HUF 32.9 bln. Employer contributions grew 16% to HUF 10 bln.

There were 27 voluntary pension funds operating in Hungary at the end of Q1 2024, three fewer than a year earlier.

Membership numbers at the pension funds stood at 1,070,600 at the end of March, down 13,500 from 12 months earlier.

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