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Jan 07, 2019

Hungarian government to increase pensions by 42,000 HUF in 2019

“This year, pensions will be increasing by 2.7 percent, the increased pensions will be arriving in bank accounts on 11 January and the post office will begin deliveries on 16 January; pensions will be increasing by an annual 42,000 forints in the case of an average pension,” Bence Rétvári said

The Hungarian government has announced that pensions will increase by 42,000 HUF in 2019.

“This year, pensions will be increasing by 2.7 percent, the increased pensions will be arriving in bank accounts on 11 January and the post office will begin deliveries on 16 January; pensions will be increasing by an annual 42,000 forints in the case of an average pension,” Bence Rétvári said.

The Ministry of Human Capacities’ Parliamentary State Secretary recalled that in 2010 the government undertook to preserve the real value of pensions. Rétvári added that it was an ambitious undertaking, because one months’ pension was taken away from pensioners not long before, and there was a deficit of hundreds of billions of forints in the pension fund.

“The government had succeeded in keeping its promise, and has in fact achieved much more,” the state secretary said.

Rétvári said pensioners can expect a pension increase of 2.7 percent this year. In the case of an average pension, this equates to 3,500 HUF-a-month, which means 42,000 HUF annually. The measure affects 2.5 million pensioners, he added.

The state secretary also said that pensions have increased by 33 percent since 2010, and that after deducting inflation we can talk about a ten percent increase in real value, meaning pensions are worth this much more.