HANDS OFF! remaining 60.000 owners of private pension found account call to protest

“Pension?? We only need your money, not you!!!" Yesterday protesters do not seem to be lost in translation. They put on board what Hungarian Government mean by including some new lines into the Act CXCIV of 2011 on the Economic Stability of Hungary. 

Last evening's protest was organized by a Facebook group calling itself “60,000 for private pension funds” . The meeting point was again at Budapest’s József Nádor square, when the blue light of mobile phone first become a symbol of resistance against the illiberalism of Orbán.

Approximately 4-5 thousand people went finally to protest but Balázs Nemes, the organizer of last week’s “Day of Public Outrage” demonstration reportedly declined to speak after learning that politicians were among the organizers and speakers of the event. Just one month before Christmas 2014 , when Christmas lighting is already on in the capital, protest are held weekly.

Hungarian government plans now to confiscate by a carefully prepared law an additional 200 billion HUF (600 million EUR ) worth of private retirement accounts, from those (around 60,000 people) who, still remained members of their private pension found , called "manyup" in a slang and abbreviated form.

After the end of 2010, 3 million future pensioners, agreed to leave the private pension found in exchange ...
of a credit for the confiscated savings in the form of individual state pension accounts, approximately HUF 3 trillion (USD 8.88 billion) of private retirement savings were confiscated by the Hungarian State.
Regarding this "deal" that many made fearing that otherwise they won't have any State support to their private pension, current Minister of Economics recently simply denied that the government have ever promised anything in exchange.