About 3.3 percent of just over three million members in Hungary's mandatory private pension funds have opted to stay in the private system, according to the National Pensions Directorate. The total number of those who have chosen to stay is 102,019.

Holders of mandatory private pensions who face losses unless they switch to the state system by the end of January have made over 200 complaints to the Constitutional Court, the daily Népszabadság said on Wednesday.

European Union member states are free to decide on which pension system they adopt, so the European Commission will not interfere with Hungary's planned changes, according to Employment Commissioner László Andor.

The government adopted a package of bills designed to force people to switch from a private to a state-managed pension scheme. Those not willing to switch will lose the considerable amount of state pension they are now entitled to.

Hungarian President Pal Schmitt on Tuesday signed laws impacting private pension funds, including the controversial amendment allowing the suspension of state transfers to private pension funds for 14 months.