Are you sure?

President Schmitt signs pension fund laws

President Pál Schmitt on Tuesday signed laws impacting mandatory private pension funds, including an amendment allowing the suspension of state transfers to the funds from November until the end of 2011.

The president also signed the law on the free choice of pension funds. The legislation, passed by parliament on October 25, makes membership in private pension funds optional for career-starters and offers private fund members the chance to return to the state's pay-as-you-go system up to the end of 2011.

In a statement published on the President's website, Schmitt asked Parliamentary Speaker Laszló Köver to start working out detailed regulations for the new laws without delay. (MTI Econews)