Pensions to rise 4% in real terms next year
Thursday, November 17, 2005, 13:36
Pensions will rise more than 4% in real terms next year, calculating with a
nominal rise of 4.3% and an extra week of payments, Welfare Minister Kinga Göncz said after a cabinet meeting late on Wednesday. This increase is expected to match the rise in buying power working Hungarians see next year, Göncz said. The pension rise, along with additional allowances, will cost the central budget Ft 130 bln-150 bln next year, she said. These additional allowances include an average monthly increase of Ft 3,600 for people receiving the pensions of their deceased spouses, and a Ft 9,000 monthly increase for people receiving pensions although they have never worked. The latter allowance will cost the central budget Ft 5.2 bln, Göncz said.