enable people to have adequate income at retirement and to ensure the system's financial sustainability. Many European … European countries (CEE) face even more challenges in ensuring adequate income at retirement. First, CEE countries were … also. The paper discusses latest developments of retirement pension systems in Europe and state involvement in private pen …

reduction. The elimination of other early retirement scheme in 2012 and slowly rising real wages made the program even more … popular: the lifetime benefit was maximized at the earliest retirement. Since 2016, real wages have been growing rather fast …; making delay attractive. Without being recognized, Female40 has become a boomerang: immediate retirement from 2014 causes …

attention to the rules of retirement in Hungary since 1990. In every pension system, there exist two rules which determine how … the lifetime contribution (which is approximately proportional to the years of contributions) and the retirement age … a mandatory life insurance and life annuity system. More generally, we speak of flexible retirement if adding a year to …

) With accelerating inflation, the declining real value of delayed initial benefits may incite immediate retirement. (iv …

the mandatory private pillar. (b) The tension between raising normal retirement age and stagnating effective retirement … age (lack of strong benefit reduction for early retirement until 2009, introduction of Females40, and elimination of early … retirement after 2010). (c) The chaotic practice of pension indexation during the whole period. (d) The polarizing impact of the …

benefits rises, the difference between the loose retirement age for females with long entitlement and the otherwise rigid … retirement age widens. Conclusion: it would be easier to reduce these tensions in a rebuilt democracy but even an autocracy …