Hungary will raise the minimum old-age pension to HUF 120,000 per month from January 1, 2027, more than quadrupling a threshold that has remained unchanged at HUF 28,500 since 2008.
Prime Minister Péter Magyar said the measure was approved by the cabinet and would increase payments for several hundred thousand pensioners. The increase is substantial: the new minimum will be 4.2 times the current level, representing an increase of approximately 321%.
More than 2 million Hungarians receive old-age pensions
Hungary had 2.42 million recipients of pensions and other pension-related benefits at the beginning of 2026, according to the latest data from the Hungarian Central Statistical Office.
Of these, approximately 2.016 million were old-age pensioners, up slightly from 2.000 million at the beginning of 2025. The average monthly old-age pension stood at HUF 260,993 in January 2026, while the median was significantly lower at HUF 230,045. Across all pension and pension-type benefits, the average monthly payment was HUF 239,625.
KSH data also show the scale of the lower-income pension segment. At the beginning of 2026, around 242,000 recipients of own-right pensions and related benefits received less than HUF 120,000 per month, although this statistical category is broader than only recipients directly covered by the newly announced minimum-pension measure.
Hungary’s statutory retirement age is 65
The statutory old-age retirement age in Hungary is 65 for people born in 1957 or later, according to the Hungarian State Treasury. A full old-age pension generally requires at least 20 years of service, while people with at least 15 years can qualify for a partial pension after reaching retirement age.
Hungary also maintains the preferential “Women 40” pension system. Women can qualify for an old-age pension regardless of age after accumulating at least 40 years of qualifying time, including eligible periods spent working and raising children.
Current minimum has been frozen since 2008
The existing minimum old-age pension of HUF 28,500 per month has been unchanged since 2008. Official Hungarian government documentation still lists HUF 28,500 as the minimum applicable in 2026.
By comparison, the average old-age pension is currently more than nine times the existing statutory minimum. The government increased pensions and pension-like benefits by 3.6% from January 2026, while maintaining the 13th-month pension and beginning the phased introduction of a 14th-month payment.
