Supplementary Pension Funds in Hungary

Abstract

Hungary has about ten years history of pension privatization process and the Hungarian experience could be really instructive. This paper is focused on the supplementary pensions trying to prove that no kind of reform of state pension system is able to solve all the problems of insufficient pensions. The paper highlights the main factors what could exetr an influence on the level of supplementary pensions. Some basic characteristics of the Hungarian private pension market are presented by means of empirical data and a complex measure of efficiency of pension fund operations is calculated.Pension Funds, Other Private Financial Institutions