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Pensions to increase 7.6% yr/yr in 2006

The increase in Hungarian pensions will amount to an annual 7.6% this year, government spokesperson Emese Danks announced on Wednesday.

Around three million pensioners will receive an increased sum in November, which includes a combination of increased pension payments with retroactive effect to January this year and 13th month pensions, Danks said. The November payment will average a net Ft 106,000 (around €400). The increase in pensions requires Ft 29.3 billion (€112.7 million) in extra spending, paid partly by the pension fund and partly by the central budget, she said.