“Soon after he was elected in 2010, Orban’s government ended mandatory payments into the private funds and nationalised most of the money they contained. That effectively allowed the government to take $12 billion in private pension assets. Poland has since made a similar change to its pension system.  The government said savers could choose to stay in the private funds, although the mandatory contributions would not go to them. About 60,000 people stayed in the funds. The change the government has now submitted to parliament is that the funds will be closed down, and their assets absorbed into the state pension system.”

http://www.reuters.com/article/2014/11/27/hungary-pensions-idUSL6N0TG2MP20141127

Did you like this?
Tip Freedomwat.ch Staff with Bitcoin

Donate via Installed Wallet Copy