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Govt wants to extend deadline for payment of real yields on pension assets

The government wants to extend the deadline for the transfer of real yields on retirement savings to former private pension fund members who returned to the state pension pillar until the end of November, the government's pension protection commission Gabriella Selmeczi said at a press conference on Friday.

Extending the deadline would do a service to former members whose data was incorrect in fund registries, Ms Selmeczi said. The government could take a decision on extending the deadline next week already, she added.

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 and their assets were transferred to the state in June. Those who returned were paid any yield on their assets over the rate of inflation by the deadline of August 31.