More Elderly in Hungary Continue Working Due to Lack of Money

  • 21 Nov 2023 7:05 AM
  • Hungary Around the Clock
More Elderly in Hungary Continue Working Due to Lack of Money
More Hungarians of retirement age are continuing to work in order to make ends meet, Népszava reports, citing CEO László Molnár of the GKI economics institute.

The number of 65-69-year-olds in the working world grew from 25,000 in 2010 to 84,000 last year.

The trend is similar for those aged 70-74, as 6,000 of them worked in 2010, while as many as 28,000 were employed in 2022, according to Central Statistics Office data.

Whereas in developed Western countries the decision to retire or continue working is a matter of preference, in Hungary it is a matter of financial necessity, according to Molnár.

Molnár said many elderly work in Hungary in part because pensions are 20-30% lower than average earnings in recent years.

Another factor in Hungary in certain professions is coercion, he noted. The average age of family doctors is 65 and if they do not stay on, medical care stops.

The situation is similar in other areas of healthcare, as well as among social workers and teachers.

János Marosi of the civil servants and public service employees’ union said those working in the social sphere while earning a low monthly salary of Ft 200,000-230,000 can also anticipate low pensions, but have to carry on working due to the huge labour shortage.

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