Published: February 24 2023
Summary:
Domestic pension funds in Hungary had a record negative quarter, with their portfolios losing money and membership falling rapidly. This has been attributed to the fall in stock markets, the suffering of the Hungarian government bond market and high inflation. Membership of voluntary pension funds has declined by 300 thousand over the last 15 years, with only 1 million 92 thousand members left. The funds are attempting to raise member contributions and attract younger generations in order to try and reverse the situation.
Key Points:
- Domestic pension funds ended quarter in record negative territory
- Membership of voluntary pension funds has declined by 300,000 over the last 15 years
- Stock market falls, suffering of Hungarian government bond market and high inflation have contributed to the situation
- Funds are attempting to raise member contributions and attract younger generations to try and reverse the situation
Source article:
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