Hungary pension and jubilee bonus regulations

In Hungary, individuals who reach the statutory retirement age of 65 but choose to continue working can increase their future pension amounts. According to social security laws, for every full 30 days worked after reaching the retirement age without requesting a pension, the future pension amount increases by 0.5 percent. To qualify for this bonus, the individual must have at least 20 years of service. For example, working for three years after reaching the retirement age can result in a pension that is 18 percent higher than the amount calculated at the time of retirement.

Additionally, public employees may be eligible for jubilee bonuses upon retirement. Under the Kjt. regulations, a jubilee bonus equivalent to five months' salary is awarded for 40 years of service. However, the 40-year requirement can be met earlier; if an employee has at least 35 years of public employment status, the 40-year jubilee bonus must be paid upon the termination of employment (retirement). These rules also apply in cases involving the 'Women 40' retirement scheme, though the service years required for the scheme and the jubilee bonus are calculated differently.