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MKB Pension Fund pays former members HUF 4 billion in real yields, fee supplements

MKB Pension Fund paid more than HUF 4 billion in real yields and membership fee supplements to members who decided to return to the state pension pillar, the fund told MTI on Thursday.

MKB Pension Fund paid HUF 3.454 billion in real yields and HUF 642 million in membership fee supplements.

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.

MKB Pension Fund transferred a total of HUF 54.2 billion of members' assets to the state's Pension Reform and Debt Reduction Fund.

The fund now has 3,325 members of which 90% are under age 50. Assets of the fund are more than HUF 10 billion.

MKB's voluntary pension fund has almost 96,000 members and HUF 87 billion assets.