Thursday, June 19, 2008

Hungary: Looking to Raise Average Retirement Age without Changing Pension Age

According to news reports, Hungary's government has rejected opposition calls to raise the pension age. Lajos Korózs, State Secretary of the Welfare and Labor Ministry, who also holds office as the National Council for Senior Citizens, said at a news conference that the government is aiming to raise the average age at which Hungarians retire or take earlier retirement.

While Hungary’s pension age is currently 62, Korózs said that, because of the number of people who take early retirement, the average age when Hungarians stop working is 58.6. It would like to focus on "cranking up this figure and bringing it closer to 62." In the view of the government, the proposal of opposition leader Fidesz to increase state pensions by no more than the inflation rate each year is unacceptable, Korózs emphasized.

Sources: BBJ "Hungary: No plans to raise pension age" (June 18, 2008); Portfolio "Retirement age hike unlikely in Hungary, State Secretary says" (June 18, 2008)

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