Hungarian pensioners will get a lot of money in November

In November, pensioners will receive on average 80,000 forints (EUR 207) more as part of a retroactive pension top-up, Finance Minister Mihály Varga said in a video posted on Facebook on Sunday.

Varga said the government is standing by its word even in today’s situation with war, sanctions, and difficult economic environment: in January pensions were increased by 15 percent, and in November, an additional 3.5 percent pension top-up will be implemented retroactively. This means that in November, pensioners can receive 80,000 forints more on average, he said.

Varga said that in January 2024 pensions will be raised by an additional 6 percent and this will be followed in February by the payment of an annual bonus, equivalent to a full month’s pension.

“We promised to restore respect for the elderly and to preserve the value of pensions. We kept our promise: since 2010, we have doubled the amount of pensions and increased their purchasing value by 20 percent,” Varga said. The government continues to stand by Hungary’s pensioners, “they can count on the government just as before”, the finance minister said.

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