Voluntary pension fund contributions climb 5% in Q1

Figures

Contributions to voluntary pension funds in Hungary rose 5% year-on-year to HUF 27.1 billion in the first quarter, data released by the National Bank of Hungary (MNB) on Friday show, according to a report by state news wire MTI.

Contributions by members increased 3% to HUF 23.9 bln. Contributions by employers climbed 5% to HUF 7.4 bln.

Voluntary pension fund membership edged down half a percent to 1,105,700 in the 12 months to the end of March. The funds attracted 9,000 new members, but membership of 8,100 people was canceled after they failed to make any contributions and over 800 members died.

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