In accordance with the decision of the delegate assembly at the end of last year, on April 1, 2024, the MBH Care Pension Fund merged into the Budapest Private Pension Fund. The former had assets of 21 billion and 3,400 members at the end of September, and the latter had assets of 42 billion and 6,000 members at the beginning of December. Bank360 has now reported that
and from July 1, the Alliance Private Pension Fund (former Allianz) will merge into the Horizont Private Pension Fund.
The former has assets of 50 billion and 8,700 members, and the latter, as the largest player in the market, has assets of 159 billion and 34,000 members. Horizont is the only private pension fund that also provides annuities. “We made this decision for the benefit of the fund members and to ensure long-term operation,” Ágota Kutiné Csurgai, managing director of the Association Pension Fund, told the newspaper.
In the case of the remaining Budapest and Horizont private pension funds, at least a 70 percent membership fee payment ratio will still be required in order to avoid liquidation ordered by the MNB. We wrote about their recent yield performance in detail here:
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