In Hungary, the pension system has now moved away from the more traditionally modern approach of the ‘pillar’ system, in a return to a primarily state ran scheme. 

The former mandatory second pillar part of the pension system was all but abolished in 2011, when payments to the second pillar were suspended towards the end of 2010. Now, some second pillar accounts are still open to workers, and there remains the choices on offer of the voluntary insurance opportu...

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