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Parliament approves bill raising pension contribution to 10%

Parliament approved late Monday legislation that will raise the rate for employee pension contributions from 9.5% to 10.0% of gross wages.

The increase is expected to boost budget revenue by about HUF 40 billion.

The prime minister's spokesman Péter Szíjjártó said on Saturday that the extra revenue would be used to cover the cost of allowing women to leave the workforce after just 40 years. (MTI Econews)