Question title: 9.5% pension fund -alternative for expats?

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Dear Ramona,

The APEH answer is only partly correct: this rule only applies for citizens of the European Economic Area (EU + Norwegia, Iceland, Lichtenstein and Switzerland). Also, if your Hungarian resident status does not exceed 180 months, at the time of retirement you can submit a claim to the pension fund for single amount payment (instead of monthly pension).
Third country citizens can ask for pension fund payments recovery when leaving Hungary. The pension fund will transfer the amount to a foreign personal retirement savings account.

Best regards,
Gyuri Péteri

4. peterigy on June 30, 2010, 3:31 pm

Dear Interested,

After APEH visit, here is answer:
9.5% pension fund is mandatory to be paid by the employee and there is no exeption to the rule for foreigners.

Also, it can not be recovered when leaving the country.

When retired, you need to specify in which country-periods you have worked and your resident state will get in touch with countries you have been working.

PS. recommendation: check in due time which are your own country requeirement ref documents to be provided at requesting pension.

br
Ramona

3. Ramona on May 31, 2010, 8:52 pm

Dear Interested,

After APEH visit, here is answer:
9.5% pension fund is mandatory to be paid by the employee and there is no exeption to the rule for foreigners.

Also, it can not be recovered when leaving the country.

When retired, you need to specify in which country-periods you have worked and your resident state will get in touch with countries you have been working.

PS. recommendation: check in due time which are your own country requeirement ref documents to be provided at requesting pension.

br
Ramona

2. Ramona on May 31, 2010, 8:52 pm

Dear Richard,

Taxes as employee in Hungary, include also 9.5% to the pension fund.

For an expat- who is not interested to accumulate this money for claiming pension at retirement- which other options are available?

Can they be put in a private pension fund? Can they be recovered when the person leaves Hungary?

Thank you
Ramona Wagner

1. Ramona on May 25, 2010, 9:41 am