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The CSO will release the latest inflation data on Wednesday, which will also reveal how many supplements pensioners can receive in November this year, recalls Privátbankár.hu. It is already certain that there will be a correction of pensions, as the government pushed the increase in pensions to inflation of 2.8 percent last year, and according to the data so far, the monetary deterioration from January to August will be greater , as well as pension inflation underlying the correction.
According to the Pensions Law, statistics for the first eight months of a given year must be taken into account to determine the pension supplement. And if the inflation of retirees is higher than that of all households, the former should be used as the basis.
Mfor calculated that retirement inflation averaged 3.94 percent in the first seven months, while “normal” was 3.5 percent. Within the average, the consumer price index for retirees rose 4.3 percent in July, while in June the statistical office measured a price increase of “only” 3.6 percent among the elderly. Given that pensioner inflation approached 4% in seven months and price pressures did not appear to have abated in the last month of the summer, at the beginning of the year. This may mean a correction of around HUF 20,000 in November, calculated on an annual basis with an average pension of HUF 142,000.
In November last year, the average pensioner could receive 33,000 HUF in additional money, of which 11,000 HUF was the supplement to the pension and 22,000 HUF the pension premium. Last year it certainly will not be, because the coronavirus epidemic has severely hampered economic growth, a value higher than 3.5 percent is not expected, which is a condition of the pension premium.
Featured Image: Norbert Farkas / 24.hu
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