nyugdíjba

Nyugdíjba is the Hungarian word for retirement. It refers to the cessation of regular employment and the receipt of a pension. In Hungary, the state pension system is primarily managed by the Social Security Fund (Országos Nyugdíjbiztosítási Főigazgatóság, OEP).

Eligibility for retirement in Hungary is typically based on age and the number of years worked and contributions paid into the social security system. The retirement age has been gradually increasing over the years and varies based on gender and the year of birth. Contributions are usually deducted from an individual's salary, and these funds, along with employer contributions, form the basis of the state pension.

There are different types of pensions in Hungary, including old-age pensions, disability pensions, and survivor's pensions. Old-age pensions are the most common, paid to individuals who reach the statutory retirement age and meet the minimum contribution requirements. Disability pensions are provided to individuals who are unable to work due to a health condition, while survivor's pensions are paid to the surviving family members of a deceased worker or pensioner.

Beyond the state pension, many Hungarians also utilize private pension funds or voluntary savings schemes to supplement their retirement income. These private options aim to provide additional financial security in retirement. The overall retirement system in Hungary is designed to provide a safety net for individuals after their working lives conclude, though the adequacy of state pensions is a recurring topic of discussion.