Hungarians support both the PIT exemption for those under 25 and the reintroduction of the 13th month pension
Hungarians are aware of and agree with the government's two new measures to help both young and old, according to the latest research from the Mária Kopp Institute for Demography and Families (KINCS). According to a representative survey of 1,000 Hungarian adults, carried out between 17-19 February 2021, the majority of respondents find both the PIT exemption for those under the age of 25 and the reintroduction of the 13th month pension useful.
From 2022, those under the age of 25 will receive a full personal income tax exemption, which, according to labor statistics, will help 288,000 young people. KINCS's research shows that 83% of Hungarians have heard of this measure, more than three-quarters (78%) support it, and about the same number of respondents (77%) also find it useful, as the majority (76%) think that it will be a great assistance for young people in starting a life and starting a family. Six out of ten Hungarians say that the economic and employment effects of the measure will also be positive: more young people will work, which can contribute to economic growth.
As part of the economic restart action plan and as an expression of recognition for the elderly, the government has decided to gradually reintroduce the 13th month pension, which will be implemented in several stages by 2024 - the first installment was received by all concerned by the end of February. The KINCS survey shows that the majority of Hungarians, 88 percent, have heard of the reintroduction of the 13th month pension. The majority find this measure useful (84%) and two thirds also agree with the disbursement of the first installment. Half of the respondents say that the pension system gives the elderly an appreciation, is a great help to them (77%) and helps to maintain their standard of living (58%).
The research carried out by the Maria Kopp Institute for Demography and Families (KINCS) highlights that Hungarians value and accept the extra support provided to young and old. There is no generational conflict concerning age-related subsidies, as these measures contribute to improving the quality of life for both the elderly and the young in the current epidemic situation.
Methodology: The national representative survey was conducted by telephone survey of 1,000 people among the adult population, between 17-19 February 2021.