nyugdíjrendszer

Nyugdíjrendszer is the Hungarian term for pension system. It refers to the social security scheme in Hungary that provides financial support to individuals who have retired from the workforce. The primary purpose of the nyugdíjrendszer is to ensure a basic standard of living for the elderly and to provide a safety net after a lifetime of contributions.

The Hungarian pension system is largely a pay-as-you-go system, meaning that current contributions from active workers are used to pay the pensions of current retirees. This system is managed by the state. There are different types of pensions within the nyugdíjrendszer, including old-age pensions, disability pensions, and survivor's pensions. Eligibility for these pensions is typically based on factors such as age, years of contribution, and the amount contributed.

Over the years, the nyugdíjrendszer has undergone various reforms aimed at ensuring its long-term sustainability and adapting to demographic changes and economic conditions. These reforms have often involved adjustments to retirement age, contribution rates, and pension calculation methods. The sustainability of the pension system is a recurring topic of discussion and policy debate in Hungary due to factors like an aging population and evolving labor market dynamics. Voluntary private pension funds also exist as a supplement to the state-sponsored system, allowing individuals to save for their retirement independently.