1999 | OriginalPaper | Buchkapitel
The New Hungarian Pension System and its Problems
verfasst von : András Simonovits
Erschienen in: Transformation of Social Security: Pensions in Central-Eastern Europe
Verlag: Physica-Verlag HD
Enthalten in: Professional Book Archive
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The Pension Law of 1997 has aroused the interest of the public as well as the experts in the Hungarian pension system. But the Hungarian pension reform is an ongoing process. From my point of view it is enough to go back to 1992, when the present institutional framework of the Hungarian pension system was set up, and, however imperfectly, the valorisation of assessed earnings and indexation of pensions were introduced. A second important stage was 1996 when the long-delayed but unavoidable rise of the pensionable age was enacted. Currently we have arrived at the third stage: the partial and step-by-step funding and privatisation of the pay-as-you-go (PAYG) public pension system, and the concomitant modernisation of the public pillar.