The Government does not intend to change either the pension system or the valuation of pension benefits, Minister for National Economy Mihály Varga said at a press conference held in Budapest.

Among others, the Minister expressed his opinion regarding the pension reform proposal of Hungary’s Population Round Table (Népesedési Kerekasztal) that recommends an adjustment of old age pensions with the number and qualification of children raised by families. Mihály Varga stated that this proposal has not been discussed by the Cabinet and the Government does not plan any change at all within the pension system, as it is a stable mechanism and over the past years the Cabinet has successfully preserved the purchasing value of Hungarian pension benefits.

The Minister added that – according to some expert studies – the Hungarian pension system requires no overhaul until 2030, and the payment of pension benefits and the operation of pension funds are well secured.

(Ministry for National Economy)