Retirees are recognized in Hungary

Hungarians support the latest measures affecting retirees: the November pension premium, pension adjustments and the reinstatement of the 13-month pension, according to the latest research of the Mária Kopp Institute for Demography and Families (KINCS). The vast majority of people believe that caring for the elderly is the responsibility of both the state and the family. The research also revealed that retirees - mostly grandparents - would like to spend the amount of the pension premium primarily on their families.

In recent years, the government has taken several measures to help improve the situation of retirees and increase social appreciation for their irreplaceable role in family life. The pension premium, the pension adjustments resulting in the pension increase and the 13-month pension also serve to recognize that pensioners have been working their entire life as well as to create financial security for them. In its latest survey, KINCS looked at the welcome and acceptance of these measures and what retirees would use for the extra money they received.

Four-fifths of Hungarians agree that the elderly are useful members of society as a whole. In particular, the responses of those raising children show how important the presence of the elderly in families is, as most positive responses were given by parents with young children (88%) and those raising 3 or more children (83%), and there is no one among them who would not agree at least partly.

In addition to acknowledging the values of the older age group, there is a broad consensus among respondents that it is the responsibility of both the state and the family to provide security in old age. 72 percent say the state is responsible for maintaining the financial security of the elderly, while 63 percent say the family is responsible for caring for the elderly.

Hungary's outstanding economic performance in Europe this year has enabled the government to take further measures to improve the situation of pensioners. The rebuilding of the 13-month pensions has begun, and in November 2021, pensioners will be paid the highest-ever statutory pension premium, and will receive a pension adjustment again in November.

Most of them heard about the rebuilding of the 13-month pension taken in 2009 and now returning to retirees (95%) and the HUF 80,000 November pension premium (85%). Support for these two measures is the highest, with 82 per cent of respondents agreeing with the payment of the pension premium and the return of the 13-month pension.

Inflation-adjusted pension increases are also surrounded by social consensus, with four-fifths of respondents (80%) in favour. The value of pensions is guaranteed by the pension adjustment and the fact that pensions are increased at the beginning of each year by the rate of projected inflation for that year. Three-quarters of respondents (76%) agreed with this pension increase.

An important background to the social esteem of the older age group is that 83 percent of the retirees surveyed are grandparents, so they have at least one grandchild. More than half of grandparents (52%) have three or more grandchildren. 96 per cent of grandparents say they have a particularly good relationship with their grandchild. Two-thirds of them meet with their granddaughter at least once a week, 25 percent each day, and 17 percent several times a week. One-sixth of grandparents see grandchildren less often than monthly.

Among other things, the good relationship between grandparents and grandchildren can be explained by the fact that most of the retired respondents plan to spend the amount of the pension premium mostly on their family (52%). Forty-five percent would spend the money on health treatments and medications, 41 percent would spend the same amount on food, and roughly a third (37%) plan to put it aside.

Overall, the measures that support our elderly compatriots and make their lives easier clearly meet the will of the Hungarian people, as there is a majority of at least three-quarters behind every government decision. Intergenerational relationships work well in most families, and the responses suggest that young and old can count on each other.

Methodology: The national representative research of KINCS was conducted between October 20-29, 2021, by interviewing two 500-person samples by telephone. One of the subsamples is representative of the Hungarian population over the age of 18 by sex, age, type of settlement and education. The other subsample is representative of the Hungarian population over the age of 60 by sex, age, type of settlement and education.

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