Socialist accuses Fidesz of misleading public on individual pension accounts

Despite government rhetoric, Parliament’s Monday decision will eliminate rather than create individual pension accounts, Socialist Board member Lajos Korózs said on Tuesday. Under a law approved on Monday, pension contributions from January this year will be transferred to individual pension accounts. Antal Rogán, the head of the parliamentary group of governing Fidesz, announced that savings accumulated under the former private pension system would be credited to these accounts some time later in the year. “What has been spent can no longer be credited. As long as Fidesz is in power, the pensions of all are at peril,” Korózs said. Upon the nationalisation of the assets of private pension funds, they promised to create individual accounts. Under the Monday law, however, they will not credit anything to the individual account, he said. “They promised to credit everything to everyone but finally voted not to give anything to anyone,” Korózs said.