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GOVT MULLING BOOSTING PENSIONS MID-YEAR DUE TO PANDEMIC

 

The government is considering bumping up pensions in the middle of the year in light of the situation caused by the pandemic, a finance ministry official has said. Inflation is now 3.6% instead of the planned 3%, so a supplementary increase of 0.6% may appear in the budget law amendment, András Tállai, parliamentary state secretary, told the daily Magyar Nemzet. The hike would cost the budget 26 billion forints (EUR 71.5m). Another hike may be introduced in November, depending on the course of inflation, Tállai added. The extra money in retirees’ pockets would amount to 10,000 forints a year on average. He noted that pensions rose by 3% at the start of the year and the phased revival of the 13-month pension is under way.