👉Once again, the rescue, camouflage left has taken out the mantra that has been repeated from time to time, so we are now refuting the lies again. Let's see the reality!
Our article consists of 3 parts: a brief summary at the beginning, in more detail on the reform of the private pension system and the development of the pension system over the last 10 years, plus another article by another person at the end.
1. Facts in brief.
Based on a 1997 decision, it was mandatory to join a private pension fund from 1998 because
In 2010, the system became OPTIONAL. 97 percent of people have opted for a state pension! Anyone who wanted to stay in the hands of stock market sharks could make a statement. Anyway, anyone can open a private pension fund account since then.
In summary, it was the left that forced the private pension fund system on the Hungarians against the will of the majority of the people, and it was Fidesz that made it optional.
Thus, it is not Fidesz that should be disturbed, but the robbers who privatize, camouflage, lie and anti-Hungarian left-liberal politicians.
2. How has the pension system developed in the last 10 years? Facts explained.
The Viewpoint Institute also talked about retirees:
“The purchase value of pensions was not only maintained but also increased by 10 per cent, the per capita value of social benefits for old age was 1529.3 in PPS in 2010 and 1766.5 in 2018. Among the economic measures, it is symbolic that the Government will gradually restore the 13-month pension withdrawn in the spring of 2009 from 2021. ”
The average pension of HUF 97,259 in 2010 increased to HUF 142,114 (1) by 2019 (46.1%), while inflation was 27% in the same period (2), so the increase in the average pension exceeded inflation by 19%.
The 13-month pension was taken by the left-liberals (3) and meanwhile they have a face to constantly criticize the pension system. As of July 1, 2009, the Bajnai government abolished the 13-month pension and abolished the pure Swiss indexation, which takes into account inflation in half as well as expected net earnings growth. Even in return, they introduced the then economically unthinkable pension premium, as at that time GDP growth did not reach 3.5%, which is a basic condition for the pension premium. Sounds nothing to hold it tight! Furthermore, they abolished the Swiss indexation (3), ie introduced the rule that if GDP growth remains below 3%, only pensions will increase by the rate of inflation, between 3-4% by 80-20% of inflation and depending on net average earnings, between 4-5% in 60-40% depending on inflation and net average earnings, and from 5% in 50-50% according to classical Swiss indexation.
From 2012, raising pensions will only be linked to inflation.
Left-liberals, of course, scream about pensions (4). Let's examine the legitimacy of their screaming. In 2009, the 13-month pension was abolished, so they could have screamed, but they didn’t scream because it was arranged by the Bajnai. In 2010 and 2011, GDP did not grow above 3.5% (5), so pensions increased in any case with inflation: no difference, Bajnai-half pension system lived.
According to the new pension system introduced from 2012, as well as according to Bajnai's version, pensions would have increased only in 2012 and 2013 with inflation, as GDP grew by less than 3%. In 2014, GDP increased by 4.2%, inflation was -0.2% and average earnings increased by 3%, in 2015, with GDP growth of 3.8%, inflation was -0.1% - and net average earnings increased by 4.3%. According to math, pensions should not have risen in these years, but they rose by 2.4% in 2014 (6) and by 1.8% in 2015 (7). In 2016, GDP growth did not reach 3%, there is no debate about raising pensions.
From 2017, however, retirees would have been better off if net wage growth had been taken into account at 60% in 2017, 50% in 2018, and 60% in 2019. However, the pension premium was already received by the retirees in these years, and the overhead voucher and the Elizabeth voucher also arrived.
From 2020, the 13-month pension will be gradually rebuilt over 4 years, which can be converted into a 2% annual increase over 4 years in addition to inflation.
Working pensioners can benefit from a contribution exemption from 1 July 2020, which represents a 14% increase in earnings (8).
Turning to private pension funds, the analysis reads as follows:
"The government encouraged private pension fund members to return to the state pension system, as it considered the second pension pillar created by the 1997 pension reform to be too costly and inefficient, and the measure stabilized the Hungarian pension system."
In addition: The private pension fund (manyup) received almost the full amount of the employee's pension contribution, while the employer's part went to the state pension fund.
The state pension fund operates on a pay-as-you-go basis, ie on the basis of income expenditure. Pensions are paid from pension (nature) contributions received from employees. If the income is less than the expenditure, it must be obtained from elsewhere, as the payment of pensions is obligatory in Hungary.
Over time, more and more people entered the labor market by paying part of their pension contributions to manyup, i.e. not the state. The proportion of active workers has not increased properly, with many rushing to retirement at a young age. GDP growth fell well short of the expected 5%, the general government deficit was unsustainable, inflation subsided, the operating cost of manyup kicked in multiples of 0.3% of capital, while pensions had to be paid. These factors caused the fact that by 2010 the operation of manyup imposed a total burden of almost HUF 3,000 billion on public finances, so that the situation deteriorated every year.
In recent years, the Orbán government has only been able to provide the economic conditions necessary for the operation of manyup.
When the Orbán government restored the pension system in 2011 (97% of manyup members automatically retired to the state pension, compulsory entry ceased), it nationalized HUF 3,000 billion in manyup assets.
Half of this was in high-interest government securities, which meant debts and debts to the state. Because the state could not owe it to itself, these government securities were simply withdrawn, resulting in a one-time, drastic reduction in government debt.
Of the remaining amount, the state paid pensions, family allowances, created jobs, and provided tax relief to families, basically this amount greatly contributed to the start-up of the economy.
So there is no question of theft, just malicious and / or ignorant lies on the part of the left-liberal fake news media and their guided readers. By eliminating manyup, Hungary escaped many HUF 1,000 billion in unnecessary expenditure and debt (9).
3. One more summary of private benefits, understandably, clearly.
One of the favorite topics on the left-liberal side is private pensions. According to them, "Viktor Orbán stuffed his friends 'pockets into his friends' pockets, wasting the old-age savings of people forced into the state pension fund." So let us be aware of the issue of private pensions as well.
The Horn government introduced a voluntary private pension fund system to "encourage" the World Bank. In addition to the payments of the population, the government "supported" these funds with HUF 30,000,000,000 (!!!) per month.
Where was thirty billion a month for this ?! Well, out of credit !!! Where did the loan come from ?! From private banks to busy interest rates! These banks and private pension insurers, in turn, gratefully "substantiated" the bank accounts of the government members pushing for the introduction abroad.
The monthly interest of 30 billion and the added annual interest of 40 billion cost taxpayers HUF 400 billion a year! That is, these private funds generated 400 billion in public debt a year! During their thirteen years of operation, approx. 5,000 billion was reached from the state coffers! What a great deal to do to mask the state as a mask ?!
This huge deficit has made huge holes in the budget. All this was diligently falsified by Jani Veres in the EU budget reports, at the request of Ferenc Gy. "Hundreds of tricks that you obviously don't need to know helped us survive this." (From Gy.F. Öszödi's speech)
The soclib governments put their favorite banks and insurers in a position to the detriment of the Hungarian people! What is the similarity between the destruction of foreign currency creditors and private pension funders ?! Banks and insurers are always the beneficiaries of vile betrayals! But what could we expect from such bank governors ?!
And now pay close attention! From the state approx. 5,000 billion migrated to MANYUP. However, in 2010, when the system was liquidated, only HUF 2,400 billion in assets were returned! Where did the 10-12 year payments go, and most of the sums received from the state ?! Disappeared in stock exchanges and other mazes!
On the other hand, the managers of the funds stationed in Hungary regularly received billions in rewards! There was a fund whose executives remitted 5 billion home to their account during the crisis, while most of the savings disappeared! And after that, dare any opposition say that Fidesz stole the pensions of millions of contributors ?! Of course he dares, because he's mean to his heart, a lying villain! After all, now they also dare to call people to a demonstration. To protest against those who have done and are doing order.
How many more junk circuses are still being run on the streets, waking people up to overthrow the government ?! I wonder why the government elected eight years ago should be overthrown ?! After all, he has won an unprecedented proportion of democratic elections in Europe. We voted for them ourselves, not the Hottentots! Oh yeah, I get it! For by them all meanness is brought to light.
We have been listening for eight years that Fidesz has stolen pensions. We've been listening for eight years that "Zorbán" has exterminated people. For eight years now, the whole opposition has been shedding lies in the MANYUP case. For eight years, Viktor Orbán has endured serious, lying slander.
The reality, however, is that the existence of a socialist-liberal system was violence itself!
The cadres of the socialist-liberal system stole the payers! They have committed worldly meanness to us! Millions of Hungarians have been stolen and stolen, and now there is skin in their image in a canon that the "mafia government destroys the workers and does not care about the retirees".
Meanwhile, no one can present a law that would have obliged the government to step back into the state pension system! It was optional; we either stay private or go back to the state. Contrary to the binding decree of the Socialists!
Since the reorganization of the pension system was also voted on by the entire Jobbik faction, their accusation is now extremely strange. As a result of the leadership of their voters and sympathizers, today the right-wingers are the loudest defenders of the betrayals of the soclibs!
The good intuition of the population was shown by the fact that most of them fled back to the secure state system, because the private coffers could not show almost anything of their 10-12 years of payment! Not only would the deposit they had collected have increased, but even from it, only crumbs of what we had entrusted to them remained, for careful handling!
So much for that...
Alias of the left:
Private pension fund-The cadres of the socialist-liberal system stole the payers!