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Voluntary Funds

As we have previously mentioned, pensions and healthcare are handled by the government in Hungary, for which workers pay taxes and contributions. But this is not the only possibility for taking care of your retirement and healthcare.

Private Pension Funds

While we pay pension contributions to finance the pensions of the current pensioners, private pension funds help us save money for our own retirement. Workers can even agree with their employers to set aside a certain amount from their salaries which can then be transferred directly to a private pension savings account instead of the account they use for their sources of income. Some employers offer extra benefits for such purposes.

Health Funds

Health funds are organizations where members deposit a certain amount of money every month to an account on their name which then can be used for medical purposes. There is a minimum amount under which you cannot deposit, but typically this is between one or two thousand forints. Just like with banks, these accounts also have a card attached to them, which we can use much like a debit card to pay for medical costs.

Home Savings Funds

Buying a flat or a house is costly and requires serious commitment. Home saving funds can help us to start saving up in time. Home saving funds are credit institutions where you can only save money for housing, and you can only borrow money when you buy a flat or a house. Once the agreed upon savings time is up you can take out a loan too with very favourable conditions. Every Hungarian citizen can use these funds, irrespective of family status or income.