Hungarian bill seeks to scrap early retirement pensions

Budapest, May 13 (MTI) – Pensions paid to people under the official retirement age are set to be scrapped and replaced by a social subsidy for people who qualify, but those who don’t will have to return to work in order to make a living, according to a bill submitted to parliament by the ruling Fidesz party MPs Janos Lazar and Istvan Balsai on Friday.

The proposal seeks to stipulate that old-age pensions shall be granted to people when they reach the official age of retirement.

But certain groups specified, such as women who have worked for 40 years, can still qualify for early retirement, the bill states.

Retirees under 62 may receive a social subsidy instead of their current pension as an incentive to take up employment again, according to the bill.