Hungary: Financial anxieties shift toward pensions and job security

According to the latest Provident Barometer survey, the financial anxieties of the Hungarian population are shifting from immediate inflation concerns toward long-term security. While anxiety regarding the devaluation of wages due to inflation has decreased from 35 percent to 21 percent over the past year, new concerns have emerged.

Approximately 24 percent of respondents expressed worry that their future pensions will be insufficient to maintain their current standard of living. Additionally, 23 percent fear that they would be unable to find new employment within their current salary range in the event of job loss.

These fears vary significantly by age group. Concerns regarding pension adequacy are most prevalent among older citizens, with 30 percent of those aged 50–59 and 34 percent of those over 60 expressing worry. Conversely, job security is a primary concern for younger generations, as roughly 30 percent of both the 18–29 and 30–39 age groups fear losing their employment, compared to only 4 percent of those over 60.

Despite these existential concerns, there is a growing sense of optimism; the proportion of people planning to cut spending in the next six months has dropped from 68 percent to 58 percent, while the percentage of those who feel no such financial threats has risen from 12 percent to 17 percent.