The Pension Savings Account, also known as the NYESZ, is a special securities account that is specifically recommended to be opened for long-term savings for retirement purposes.
At the Hungarian Treasury, maintaining the Pension Savings Account is free of charge, and no separate treasury fee is charged for the purchase of government securities. To open NYESZ, a normal securities registration account is required.
Every natiral person can have a NYESZ account marked R (NYESZ-R), for which he can use a tax discount of 20%, up to a maximum of HUF 100,000, after his annual payments. The tax refund must be requested annually at the time of the personal income tax return, and the credited amount increases the balance of the existing NYESZ-R.
Any HUF government bond sold by the Hungarian State Treasury can be purchased for the Pension Savings Account.
In the case of Pension savings accounts opened after January 1, 2013, the amount accumulated in the account can be accessed tax-free if the account holder is already entitled to a pension and the account is closed after the tenth year after the account was opened.
In addition to the payment of tax burdens, an amount can be withdrawn from the Pension Savings Account if the above-mentioned conditions are not met. In such a case, not only interest tax and social contribution must be paid, but the previously credited tax refund must also be paid back, calculated with a value increased by 20 percent.
You can initiate the opening of a Pension Savings Account at the customer service of any government securities distributor of the Hungarian Treasury, or even online (via the Customer Gateway) without appearing in person by clicking here! It is necessary to deposit a minimum of HUF 5,000 into the Pension savings account when the account is opened, and in the case of opening an account online, it is necessary to provide free money of HUF 5,000 in the securities registration account.
After account opening, if the securities registration account includes WebKincstár and MobilKincstár access, you can purchase government securities on their interface without appearing in person, or during a personal appearance at the customer service of any government securities distributor of the Hungarian State Treasury.