Magyar Government to Raise Minimum Old-Age Pension
The increase will double the minimum pension for many recipients and help several hundred thousand elderly people, the prime minister said.
- On Thursday, Hungarian Prime Minister Peter Magyar announced the government will raise the minimum old-age pension to 120,000 forints monthly, effective January 1, 2027.
- Raising the statutory minimum pension was a key pledge of the Tisza Party ahead of April's election, which Magyar's party won with a landslide victory.
- Magyar stated nearly one million elderly citizens are living in severe deprivation following 15 years of the prior administration, emphasizing the nation owes them a debt.
- To support elderly citizens, the government plans to exempt prescription medicines from VAT and reduce the VAT rate on firewood from 27 per cent to 5 per cent.
- These measures intend to help what Magyar called 'our most forgotten elderly compatriots' live with dignity, as the Prime Minister acknowledged the nation's debt to seniors cannot be fully repaid.
20 Articles
20 Articles
The new Hungarian government announced on Thursday that the minimum pension will increase from 80 euros a month to 330 euros today, starting in January 2027. It is a measure targeting hundreds of thousands of people, announced Prime Minister Peter Magyar on Facebook.
Péter Magyar announced that the minimum old-age pension will be increased to 120,000 forints from January 2027, which could affect hundreds of thousands of elderly people.
The minimum amount of the old-age pension will be increased to 120,000 forints from January 1, 2027, Prime Minister Péter Magyar announced in a video message on Thursday. The minimum pension has been unchanged at 28,500 forints since 2008, and according to the Prime Minister, the increase will affect hundreds of thousands of elderly people.
According to the Prime Minister, this will double the pensions of many people.
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