Almost 1.1 Million Members in Hungarian Voluntary Funds

The number of members and assets under management of the National Association of Voluntary Funds (ÖPOSZ) increased in the first quarter of this year compared to the previous year, the association said in a statement on Tuesday.

Almost 31,000 people have joined the voluntary funds since March 2021. Of these, 24,000 joined health funds, bringing their membership to more than 954,000, and assets under their management increased by 4.6% to more than HUF 70.6 billion. The number of members of pension funds reached 1,073,000, with assets under management of HUF 1,585 billion, up 2.4% year-on-year.

Quarterly membership fee income increased significantly for both types of funds. For health funds, the increase was from HUF 9.6 billion to HUF 11.24 billion, of which HUF 9.71 billion was individual contributions. Pension funds increased from HUF 32.42 billion to HUF 38.23 billion, of which HUF 19.42 billion was individual contributions.

Based on the data, ÖPOSZ believes that more and more people are opting for self-care in order to live their old age without financial difficulties and to preserve their health, the statement said.