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Hungarian Retirement Plan of the Future

Author

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  • László Bujdosó

    (Óbuda University)

  • Márkó Andrasics

    (Óbuda University)

Abstract

Many happenings take place in the today's world day by day and we do not notice what happens around us many times. The humanity's development quickened, all on a technical and economic level, and beside these the consumption claims and the population of Earth has increased equally. All peapole has bigger needs like everything would be need less time than we could fulfil our growing desires. The world's states continually will be more extreme opposite each other in social, economic, or demographic situation thet pull the nation of people’s living conditions apart than stay together How can the good existence be reached? First of all, every member of society should creates value, something new constructing, like technical one, engineering one, economic one, or educational one, that made to fit his profit for even the individual and the surrounding of that make the future better. Secondly creating an optimal living standard, when everything given to the basis living need, as Abraham Maslow defined it, also a big step for the good existence. Not in a last row, I think the state's task to maintain and to ensure the circumstances for the citizens, that makes the final calmness and carefree position of their opportunity of succesful path of life. The people has the right of being free and reach the goal of happiness on its’ own way. In Hungary the state's duty to support his citizens in financial way too. The pension system is connected to this case also. Hungary has a Pay as you Go system, also kown as PAYG system, where from tax contribution of the active employees are distributed monthy to the not capable persons, pensioners, and not in a last row the unemployed workers. The state also supports self-catering solutions, that everything natural or legal member of the society could use from innate right, in that case of barely visible and unsteady sustainability of pension sytem in the future. The topic of our future is coming into the foreground rather continually since the pension situation puts on critical perspectives currently in Hungary. The society's ageing in a totally usual process, and at the same time, the economic and social problem equally. The younger generations has more time to be prepared, opposite the elderly who stading before pension. Above all the question arises rather at it the carefree pensioner regarding the financing of years, that how a sum up an optimal amount of money in a caring form, whereby easier to do against the continuously postponing the quality of calm years after retirement age. In the this publication, the Hungarian retirement plans are presented and single researches will show, that the society is not ready for avoiding the pension catastrophe, showing my research from the last years..In the first step the history snd development of the hungarian pension system will be presented.

Suggested Citation

  • László Bujdosó & Márkó Andrasics, 2017. "Hungarian Retirement Plan of the Future," Proceedings- 11th International Conference on Mangement, Enterprise and Benchmarking (MEB 2017),, Óbuda University, Keleti Faculty of Business and Management.
  • Handle: RePEc:pkk:meb017:31-41
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    File URL: http://kgk.uni-obuda.hu/sites/default/files/03_Bujdoso_Andrasics.pdf
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    References listed on IDEAS

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    1. Maria Augusztinovics, 2002. "Issues in pension system design," International Social Security Review, John Wiley & Sons, vol. 55(1), pages 21-35.
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