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”HONVÉD” (Military) Pension Fund

This article discusses the criteria of the "HONVÉD" Military Pension Fund within the EU pension system. It covers the importance of separation of social discrimination, maintaining life standards, promoting solidarity, increasing employment, adjusting to flexible employment models, and ensuring private pension stability.

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”HONVÉD” (Military) Pension Fund

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  1. ”HONVÉD” (Military) Pension Fund

  2. Criteria’s of EU pension system – I. 1.) Separation of the social discrimination (guarantee of the minimum pension level , risk of elderly poorness) 2.) To keep life standard on the previous level (00-70%, tax) 3.) To help solidarity (solidarity between generations, solidarity between elderly people) 4.) To increase the level of employment (the rate of economical suport) 5.) Increase the years sent at work (no support for earlier retirement) 6.) To keep the pension system and balance of the budget at the same time (GDP 10,4 %) 7.) Propotional changes of supply and allowance (so that it does not bother the active people, but to assure a good level of pension 8.) To assuer a good level of private pension and financial stability (2. Increase the importance of the second COLLUMN 40 % /UK; NL/ ) 9.) To adjust to a more flexible employment and career model (flexible labermarket and free movement between the member states)

  3. Criteria’s of EU pension system – II. 10.)To make equality between men and women (differences of pension levels, unisex rules) 11.)The pension system should fit for all challenges (a turstful question transparency and stability)

  4. Model of typical EU member state • COLLUMN: Compulsory state pension system 2. COLLUMN : Compulsory or voluntary, the employee’s or your own pensional or financial system 3. COLLUMN : Voluntary, supplementary, the employee’s or your own pensional or financial system

  5. Voluntary: Employee fee - support Reduse of tax (eg. own payment) Variaty of the taxfree timelimited service The inheritable things Possibility of getting a loan The chance of getting creadit Mandatory: No additional expense, sent by the employee The chance of supplementary benefit Paying can be followed The variations of timelimited services The inheritable things Adventages of the fund membership

  6. Main facts of establishment • 24th of october 1994: 39 founder member established the ”HONVÉD” (Military) Pension Fund, Voluntary Section • 12th of december 1997: The ”HONVÉD” Voluntary and Mandatory Section was established • 7th of may 1998: The Mandatory Pension Fund got the licence

  7. When ”HONVÉD” (Military) Pension Fund was established, it was only for Hugarian Defence Forces personal.

  8. Fund sort history BG, CM, LE, INT. 1996. HDF1994. CS – 2004. POLICE – 2008.

  9. The organization of the Pension Fund • Sent general assembly • From July 2008 • Voluntary section: 40 areas, 40 delegates, deputy delegate • From all kinds of employees. • Mandatory section:38 areas, 38 delegates, deputy delegate • From all kinds of employees. • Local voter essembly • The director’s council(11 people) • Board of inquiry (7 people) • Management and coordination office (28 people)

  10. Number of delegates and area

  11. Delegates/employee PO-Police, LE-Law Enforcement, CM Crisis Management, INT Inteligence service, CS Customs Service

  12. Tasks of delegates • To keep a permanent contact with areas leaders and Fund leaders • To help Fund marketing activity in the area • To take part in a general assembly activity and give an information for a Fund members

  13. Trend of members (person)(2000-2008)

  14. Graduated voluntary members fee(from 01./01./2009.)

  15. FUND PROPERTY, INVESTMENT FUND Dicertor’s Council Management Hungarian Finacial Supervisory Authority Trustee (3) CONCORDE MKB Generali Deposit Bank RAIFFEISEN money information

  16. Optional portfolio system (2008.01.01.)Classical portfolio 1% 1% 1% 3% 94%

  17. Balanced portfolio 4% 4% 4% 12% 71% 5%

  18. Growth portfolio 8% 8% 8% 42% 24% 10%

  19. Trend of Fund Property (1995-2007)(thousands Ft)

  20. Average output of Funds voluntary section (2003 -2007)

  21. Average output of Funds mandatory section (2003 -2007)

  22. Fund Functional Facts (bil. Ft) Vol.Full payment (pention) 1,1 bil.  3,1 bil. (2007) Mand. Went backt to the state sys.36 bil. Ft  1,4 bil. Ft (2007) Members loan 312 pers. 55,5 mil. Ft (2004)  837 pers. 219 mil. Ft (2007) Members deposit 48 pers 25,8 mil. Ft (2006)  77 pers. 45 mil. Ft (2007)

  23. Main tasks of the Fund’s future 2009 • To start the UNIT system and stabilize the proper function • New agreement and cooperation with Foreign trustee • Make a better investment result • 15 years anniversary 2009 – 2014 • Prepare a 5 year long business strategy • Increase the Fund investment results • Preparation for functional mandatory pention system (from 2013) • Plan for a Public Company conversation

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