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OTP pension fund return yields average HUF 65,000

The real yields of members of OTP Bank's private pension fund who decided to return to the state pension pillar average out to more than HUF 65,000 per member, OTP Private Pension Fund said.

The fund will inform about 730,000 of its members who decided to leave of their real yields starting Friday. Payments, of about a combined HUF 60 billion, will start on August 1.

Hungarian private pension fund members had until the end of January to opt out of a move, together with their pension assets, to the state pension pillar. About 97% of private pension fund members decided to return to the state pillar, bringing some HUF 2,946 billion in assets with them. These Hungarians will get any yield on their assets over the rate of inflation by August 31.

OTP Private Pension Fund said about 85% of members who left the fund will get some yield.