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Tag: pensions

Orbán Signs Decree on Increasing Monthly Pensions

Viktor Orbán signed a decree that he says the government adopted in yesterday’s session on increasing monthly pensions, the Prime Minister said in a Facebook video.

Orbán stated in the video that prices were rising because of the war, and because of that, inflation was growing. He claimed that the government would be protecting retirees with the measure.

On Wednesday, Minister Gergely Gulyás announced that in addition to the extra 5% pension increase at the start of the year, the government would now be increasing monthly pensions by a further 3.9%, meaning pensions will increase by a total of 8.9% for this year. [HVG]

Pensions may go up again this year if inflation is high

picture of retirees and money

An extraordinary pension increase may take place this year if the economic or political situation requires it, as evidenced by the extraordinary supplementary pension increase in June 2021, says pension expert András Farkas in Napi.hu.

Prime Minister Viktor Orbán announced last month in Parliament that pensions would increase by 5% from January 1, 2022. In addition to this, around two dozen other social welfare benefits also went up.

According to his analysis on NyugdíjGuru, Farkas estimates if the rate of annual inflation estimated from actual inflation data measured in January-August 2022 exceeds 5%, then some type of pension increase could be expected in November 2022.

Further extraordinary increases in the course of the year may also take place if the economic or political situation so requires, the pension expert said.

[Magyar Hang]

Retirees to get extra month of pension benefits in February

picture of Viktor Orbán and others

Viktor Orbán signed a decree on Tuesday for a “13th month” pension benefit to arrive in February, as posted in a video on the Prime Minister’s Facebook page.

After sitting at a table with representatives from the Council for the Elderly, Orbán said that:

The past year and a half has been particularly hard on our elderly compatriots, so we’ve taken a look at what we could do for them.

Orbán claimed that the Hungarian economy had been able to return to the growth trajectory where it had been before the coronavirus epidemic, and was now performing well. Every retiree received a pension bonus of 80,000 Ft. (US $245) in November, he said, but “we don’t want to stop there.”

The Prime Minister announced that pensions would increase by 5% next year, as he had also stated in Parliament that day, and that the 13th month pension would also be reintroduced.

[444][Photo: Viktor Orbán / Facebook]