Hungary reverses pensions reform

Author (Person) ,
Series Title
Series Details 14.12.10
Publication Date 14/12/2010
Content Type

Hungary’s parliament voted on the 13 December 2010 to approve the effective seizure of assets held in mandatory private pension funds, a move that reverses a 1998 reform and has unsettled investors.

The passage of the law by a wide majority occurred shortly after the European Commission reached a tentative deal with Poland that may persuade it and other central and eastern European countries not to follow Hungary’s example.

Related Links
ESO: Background information: Hungary, Bulgaria challenge Rehn on pensions http://www.europeansources.info/record/hungary-bulgaria-challenge-rehn-on-pensions/
EurActiv, 14.12.10: Poland, Hungary at odds over pension reform ahead of EU summit http://www.euractiv.com/euro-finance/poland-and-hungary-odds-pension-reform-ahead-eu-summit-news-500565
Hospodářské noviny, 14.12.10: Private pension funds seized (via PressEurop) http://www.presseurop.eu/en/content/news-brief/428811-private-pension-funds-seized

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