The mandatory private pension pillar in Hungary
An obituary
Bibliographic Data
| ID | 9971925 |
|---|---|
| Authors | Andras Simonovits (0000-0001-7047-5843, Institute of Economics, corresponding author) |
| Year | 2011 |
| Volume | 64 |
| Issue | 3 |
| Pages | 81-98 |
| Publication date | 2011-07-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | International Social Security Review (JOURNAL) |
| Journal identifiers | ISSN: 0020-871X • E-ISSN: 1468-246X |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/j.1468-246x.2011.01404.x |
| OpenAlex | W1503141334 |
| Language | EN |
| Citations received | 24 |
| References cited | 12 |
In 1998, the left-of-centre government of Hungary carved out a second-pillar mandatory private pension scheme from the original mono-pillar public system. Participation in the two-pillar system was optional for those who were already working, but mandatory for new entrants to the workforce. About 50 per cent of the workforce joined the second pillar voluntarily and another 25 per cent were mandated to do so by law between 1999 and 2010. The second pillar has not improved the financial stability of the social security system. Moreover, the international financial and economic crisis has highlighted the transition costs that are associated with moving, even if only partially, to a system of pre-funding. In 2010, the conservative government de facto “nationalized” the second pillar, and it is to use part of the accumulated pension capital to reduce Hungary's excessive public debt and annual budget deficit and to compensate for income tax reductions
Business · Debt · Economic growth · Economic policy · Economics · Government (linguistics · Market economy · Obituary · Pension · Pillar · Political science · Private pension · Social security · Workforce · Engineering · Finance · Financial Literacy, Pension, Retirement Analysis · Hungarian Social, Economic and Educational Studies · Law · Retirement, Disability, and Employment
Pension Reform in the European Periphery
Recent changes moving Hungary away from the European Social Model
The politics of pension policy responses to Covid-19
From pension funds to piggy banks
The 2022 Greek pension reform
A call for more elaborate and transparent pension data to inform policy‐making
Pension reforms in EU11 countries
Second‐pillar pensions in Central and Eastern Europe
The retrenchment of second‐tier pensions in Hungary and Poland
Social security contribution collection and compliance
Illiberal Social Policy in Europe
Radical Pension Reforms after the Crisis
Cracking the Nest Egg
Averting the funding-gap crisis
Years of averting the old age crisis in Eastern Europe
Fiscal implications of the populist radical right in power
Democracy and welfare in hard times
Another look at causes and consequences of pension privatization reform reversals in Eastern Europe
An illiberal welfare state emerging? Welfare efforts and trajectories under democratic backsliding in Hungary and Turkey
The Financial Crisis and Varieties of Pension Privatization Reversals in Eastern Europe
Politicising embedded neoliberalism
Right-Wing Populist Re-Politicization and the “Hollowing Out” of the Neoliberal State
The politics of pension reform reversal
The Diversity and Causality of Pension Reform Pathways
| Unique citing works | 24 |
|---|---|
| Citations per year | 1,6 |
| Citation span | 2011 - 2025 (15) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 24 |