Due to high inflation, pensioners can expect a pension adjustment in November, pension expert András Farkas said.
According to the latest forecast of the Minister of Economic Development, the rate of inflation may exceed 17.5 percent this year. Based on this, however, pensioners may receive a correction, as they received a 15 percent increase at the beginning of the year. All this may mean that an average pensioner can expect HUF 51,000 more in November.
Based on the August data, the government will prepare an estimate of the rate of inflation for pensioners, and if the former exceeded the general inflation, they can determine the supplementary pension increase based on that
pension expert András Farkas, founder of NyugdíjGuru News, told Növekedes.hu
He added: based on his own calculations, he believes that pensioner inflation may reach 18 percent or even rise to 18.5 percent. This, as he said, means that
if the government takes 17.5 percent inflation into account for the pension increase, then a 2.5 percent increase could come in November;
however, if pension inflation is taken as a basis, the amount of pensions may increase by 3-3.5 percent.
"All this means that in November, the increased amount can already be paid to those receiving pensions or pension-like benefits, and they will also receive the additional pension increase difference retroactively for the last 10 months of the year and for the 13th monthly pension," András Farkas said.
He also said that this year's pension fund consists of HUF 5,554.6 billion, while next year's will amount to HUF 6,019 billion based on current calculations. One of the largest items is the 13th monthly pension, while the other is early retirement for women. As he said, the reduced-age pension for women is also outstanding in international terms, because it is a pension that can be used before the age limit and is not burdened by any deductions.
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