It is almost certain that the minimum is HUF 50,000, but the pension premium to be paid this year could easily be HUF 80,000. Prime Minister Viktor Orbán confirmed in the Parliament on Monday that there will be a pension premium and that the rebuilding of the 13th monthly pension taken away by the left will continue.
Prime Minister Viktor Orbán said at the opening session of the autumn session of the Parliament that, according to experts, the amount of the pension premium exceeds HUF 50,000, and that they are continuing to restore the 13th monthly pension, which was taken from the elderly by the Gyurcsány-Bajnai government.
Viktor Orbán: According to experts, the amount of the pension premium exceeds HUF 50,000 SOURCE: MTI/SZILÁRD KOSZTICSÁK
The background to the Prime Minister's announcement is that pensioners will receive more money in November than previously expected. The latest inflation data of the Central Statistical Office (KSH) show that the rate of inflation in the first eight months of this year was 4.3 percent. This latest figure was 0.7 percent more than the annual pension increase, according to the law, this is how the inflation-adjusted pension works.
This means that the pensioners will receive the correction in one sum - as the difference does not reach one percent - calculated on an annual basis - taking into account the February quarter installment of the 13th monthly pension - so 12.25 times 0 Pension expert András Farkas told Világgazdaság that the November pension will be .7 percent, or 8.575 percent more than the October one.
The previous numbers predicted only 7.35 percent. Considering the median pension of around HUF 130,000, this means that in November, in addition to the HUF 130,000 pension, pensioners will also receive an increase of HUF 11,150. In addition, the pension premium will also arrive at this time, which will be the highest of all time, and this can be announced now.
PRIME MINISTER VIKTOR ORBÁN SPOKE ABOUT A PENSION PREMIUM OF HUF 50-56 THOUSAND A FEW WEEKS, BUT THE BENEFIT ADJUSTED TO THE LEVEL OF ECONOMIC GROWTH CAN EASILY REACH THE LEGAL MAXIMUM OF HUF 80,000 IN THE CASE OF PENSIONERS WHOSE MONTHLY BENEFITS REACH 80 THOUSANDS.
Of course, those entitled to benefits of less than this amount are also entitled to the premium, adjusted to the amount of their own benefits.
Based on this, it can be calculated that around November 12, a median pensioner will be able to receive almost double his usual pension, up to HUF 220,000 instead of HUF 130,000.
ACCORDING TO DATA FROM KSH, THE AVERAGE OLDER PENSION IS HUF 150,571 IN HUNGARY. ACCORDING TO THIS, THE AMOUNT OF THE PENSION CORRECTION REACHES HUF 12,910, SO THE TOTAL NOVEMBER BENEFIT (ACCORDING TO ROUNDING RULES) WILL BE HUF 163,480.
Added to this, the maximum pension premium of up to HUF 243,480 can be received in the account of an average pensioner in November.
Another good news for pensioners is that from January, before next year's 3 percent regular pension increase is implemented, their pension must be increased by one-twelfth of the lump sum increase difference in November, i.e. by 0.71 percent, and in February the next step in the reconstruction of the 13th monthly pension will come, which it will now be an amount equal to 50 percent of the January 2022 pension.
In January 2017, pensions were increased by 1.6 percent. As inflation in 2017 was 2.4 percent, pensions rose by an additional 0.8 percent in November retroactively to January.
In November 2017, pensioners received HUF 10,000 Erzsébet vouchers.
In November 2017, pensioners received an average HUF 12,000 pension premium, which further increased the annual rate of the increase, so it can be said that the increase was above inflation.
In January 2018, pensions were increased by 3 percent. Inflation in 2018 was 2.8 percent, so the increase was above inflation. In March 2018, every pensioner received a HUF 10,000 Erzsébet voucher in November 2018.
In January 2019, pensions increased by 2.7 percent. In November 2019, pensions increased by another 0.7 percent, and a pension premium was also paid (on average HUF 22,000). The annual inflation was 3.4 percent, so with the premium and utility voucher, the annual increase was overall above inflation. All pensioners received a HUF 9,000 utility voucher in the fall of 2019.
Pensions increased by 2.8 percent in January 2020. The additional pension increase came in November 2020, 1.2 percent retroactively for the whole year, making the 2020 increase 4 percent, which is more than the annual inflation (3.4 percent), pensions increased by 3 percent from January 2021. An average of 18,000 pension premiums were paid, further increasing the rate of the annual increase.
The left would again take the money from pensioners – as usual, referring to the Swiss indexation introduced by Bokros, which is only suitable for the Gyurcsánys to introduce new restrictions if they come to power.
Source and full article: origo.hu
Featured image: AFP/DPA-TENRALBILD/JAN WOITAS
