The boomerang of Female40: seniority pensions in Hungary, 2011–2018
European Journal of Social Security
2019
21
3
September
262-271
pension scheme ; early retirement ; seniority benefit ; women workers
Social protection - Old age benefits
https://doi.org/10.1177%2F1388262719869527
English
Bibliogr.
" In 2011, the Hungarian government introduced special seniority pensions (Female40): Females, who have accumulated at least 40 years of eligibility (related to the length of contributions), can retire at any age without actuarial benefit reduction. The elimination of other early retirement schemes in 2012 and slowly rising real wages made the policy change even more popular: the lifetime benefit was maximised at the earliest age of retirement. Since 2016, real wages have been growing rather fast; making delayed retirement attractive. Without being noticed by the public at large, Female40 has become a boomerang for its former beneficiaries as immediate retirement from 2014 causes losses rather than gains to the foregoing retirees."
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