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Postal workers to hand deliver, in cash, real yields on pension assets up to HUF 100,000

Hungarian postal workers will hand deliver, in cash, payouts of real yields on private pension funds up to HUF 100,00 (EUR 371), according to an announcement on the website of financial market regulator PSzÁF.

Former private pension fund members' whose real yields exceed HUF 100,000 may pick up their cash at their local central post office, PSzÁF said.

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 by June 10. Those who returned are entitled to any yield on their assets over the rate of inflation.

The yields are to be delivered or made available at post offices by the end of August, PSzÁF said. Former private pension fund members may also opt to have their real yields transferred to their bank account, to their voluntary pension fund account or into their personal social security account.