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The Private Banker reviewed the report of the State Pension Audit, which was attached to the bill on the final accounts for the execution of the 2019 budget. This makes it clear how the per capita benefits of new retirees skew the per capita benefits. capita. The reason for this is the increasing amount of initial pensions, which is causing a widening gap among older people.
According to the report, the number of recipients of pensions and pension-like benefits has been declining for years (almost 3 percent between January 2017 and 2020), during which the average amount of total monthly benefits increased by 15 , 6 percent. Regarding the amount of pensions, it means that while in January 2017 the average total monthly benefit was 112,005 HUF, in January 2020 it was 129,444 HUF.
Returning to the pension increases for the period analyzed, the private banker came to the conclusion that in January 2020 a lower amount will come out than the one announced in the SAO report.
During these three years, the following increases were made, which will be included in the subsequent retirement (excluding the premium or the value of the Elizabeth or the overpayment vouchers, as they are only payments):
- November 2017: 0.8 percent
- January 2018: 3 percent
- January 2019: 2.7 percent
- November 2019: 0.7 percent
- January 2020: 2.8 percent
The product of these and the monthly average for January 2017 will amount to 123,631 HUF for January 2020. However, the SAO report includes 129 444 HUF for this last date. The difference is HUF 5,813: this is how much the average pension at the beginning of this year was higher this year than what would result from the increases.
According to the document, the explanation may be that the amount of initial benefits for those who retire in the meantime increases the average. Steep salary increases in recent years have placed retirees in a much better position because they were able to start from a higher salary base when calculating their earnings than those who had previously completed their active years.
Featured Image: Norbert Farkas / 24.hu
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