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Orbán puts pension premium at HUF 80,000

Government

Prime Minister Viktor Orbán said pensioners will get an HUF 80,000 premium linked to economic growth this year in a weekly interview on public radio on Friday.

The premiums will be paid in November, Orbán said on Kossuth Rádió.

Including the second part of a pension top-up to compensate for higher-than-expected inflation this year, he said pensioners will get "around HUF 100,000".

Pensioners got their first top-up because of the faster increase in consumer prices in the summer.

For years, Hungary's government has adjusted pensions to the expected rate of consumer price inflation at the start of the year. However, if the average annual CPI is higher than expected, it tops up pensions to match the difference, retroactively, in November.

Orbán reiterated that he sees a chance for the earlier-than-planned reintroduction of the full pensioners' bonus.

The government reintroduced the first "week" of the pension bonus - equivalent to a full month's pension - in 2021 and had planned to add the second week to the bonus in 2022.

"We can certainly return two weeks [of the pension bonus] at the beginning of next year. But, if we don't make any mistakes, and if the government's growth-driving economic policy is successful in the coming three months, as it has been until now, then I see a chance early next year to return not just two weeks, but a full month of the pension bonus sometime around early February," Orbán said.

"This is not a certainty. I'd ask listeners not to think of this as cash in hand, but I see a chance. We have to work for it, fight for it, but it's not impossible," he added.

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