The Orbán government aims to allow Hungarians a one-off opportunity to use savings in voluntary pension funds for home purchase or renovation, or to repay home loans, in 2025, Zsolt Kovács, a National Economy Ministry commissioner, said on public television on Wednesday.
The government measure, which is in the public consultation phase, would allow Hungarians to apply as much as their entire voluntary pension fund savings for home purchase or renovation for themselves or their family members, Kovács said on news channel M1.
He noted that there were about 1m voluntary pension fund members at present. Some of those members could have as little as a few hundred thousand forints on their accounts, while the balances of others could be in the tens of millions of forints, he added.
Photo: FB/Orbán
More than HUF 2,000bn in savings are in voluntary pension funds, and if “a few tenths” of those savings are mobilised by the measure, it could be considered a “real success”, Kovács said.
Digital Hungary app popular
Government investments with a combined value of HUF 136bn have been completed over the past two years, government spokesperson Eszter Vitályos said at a regular press briefing on Wednesday. The 31 projects included HUF 1bn of kindergarten and nursery renovations, HUF 1.3bn of transport developments and road reconstruction projects, and HUF 4.2bn of urban upgrades, Vitályos said.
Investments of around HUF 6bn were completed in the area of economic development, and major projects were finished at education, culture, sport, healthcare and social institutions, she added. She noted that the Digital Hungary mobile application had been downloaded more than 200,000 times, and the national healthcare mobile app could now be used to make appointments at more than 80 healthcare institutions.
Photo: PrtScr/Youtube
Read also:
- Hungary’s property market on track for 30% sales increase in 2024 – read more HERE
- Budapest Mayor Karácsony urges Orbán to address housing crisis as rent prices soar – details in THIS article
Featured image: depositphotos.com
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1 Comment
The Real Person!
The Real Person!
After you spend your entire pension savings on home renovation as this proposal provides for what do you live on when you reach your old age? The other ridiculous proposal from the Fat Man is that banks voluntarily cap mortgage rates at 5% when the Hungarian central bank rate is 6.5%. Banks are not charities. This government is definitely fascist as it interferes in every aspect of people’s lives and businesses and takes away your freedom.