Economy ministry official says state pension system stable

Budapest (MTI) – The state pension system is stable and will remain so over the long term, an economy ministry official told MTI on Thursday.

“The changes in recent years in the social insurance system guarantee full and predictable state pensions for future retirees,” Ágnes Hornung, state secretary for financial affairs, said, clarifying earlier comments she made at a conference.

“Voluntary mutual pension funds, since their introduction, have played a key role,” Hornung said, adding that the government considered it important they should continue to play a supplementary role to the state. They should not take over the state’s role, however, she said.

Earlier Hornung told a conference organised by the National Federation of Voluntary Pension Funds (OPOSZ) that the state could help to ameliorate demographic and labour market pressures, but funds should also take measures to sustain a dual system by strengthening the voluntary pillar. The government considers it important for the state pillar to have a supplementary one and this should play an “important role” in the future, she added.

Source: MTI