Aegon Hungary Voluntary Pension Fund

With over 172 thousand members and assets exceeding HUF 211,5 billion, Aegon Voluntary Pension Fund is one of the leading funds in Hungary.

It is backed up financially and professionally by Aegon Group, one of the largest life and pension insurers of the world.

The voluntary fund system is not part of the obligatory social security system. You can pay membership fee to the voluntary fund account from your net salary, with a frequency and in an amount matching your own needs. This form of saving provides an optimal solution to those who aim to ensure long-term pension savings and conscious self-care.

Why Aegon VPF? >>

Supplement your pension fund savings from your deducted personal income tax!
One of the great benefits of your voluntary fund savings is that you are entitled to a refund of 20% from your personal income tax; i.e. the state will increase the savings on your fund account by this amount. According to the laws in effect, the upper limit of the tax-refund is HUF 150,000 if you don’t request any tax-refund, based on your health fund payments in the given tax year. If the individual requests tax-refund in his/her voluntary fund, pension pre-saving account and pension insurance statement, then the total refund may not exceed HUF 280,000. The refund is not limited by income!

Would you like to obtain the long-term commitment of your co-workers?

What are the benefits of AEGON Voluntary Pension Fund?

  • You are entitled to a tax refund of 20% on your payments (individual deposits, company donations and contributions too).
  • Yields generated on your voluntary fund account are tax-free, thus there is no interest tax on them either.
  • You can designate beneficiaries for the assets accumulated on your voluntary pension fund account, that way you can support not only yourself, but also your loved ones.

What kinds of investment portfolios are available?

Offering five types of investment portfolios, our system is designed to ensure that customers may choose the investment mix that matches their age and risk propensity the best. You can switch between the portfolios at any time, depending on the changes of the market.

Above inflation returns in the long term

Source: pension fund returns and inflation disclosed by the Central Bank (
*The Expert Absolute Yield Portfolio and the Climate Change Portfolio was set up in February 2008, so we do not have the annual returns for 15 years. We included the average returns of the period between 2009 and 2019 pursuant to legal stipulations. Average inflation for the 11-year period between 2009-2019 was 2.74%.
Past performance shall not guarantee future returns.

Gradually decreasing cost deduction

Costs decrease gradually as the amount invested grows. It means that cost deduction is lower from the part of your annual payment which falls within the upper limits. There is no deduction in the highest limit.*

* The first payment of HUF 4000 after becoming a member will be transferred to the operating fund. Any further payments will be affected by the limits and amounts indicated in the table.

How can you contact us?

Via telephone or the online customer service you can check your current account balance at any time, change your personal data and perform other transactions from the comfort of your home. Please register if you want to use our online customer service.

Should you have questions or remarks, please contact your personal advisor or our staff at:

  • Address: AEGON Magyarország Pénztárszolgáltató Zrt. 1399 Budapest P.O. Box 717
  • Telephone number: +36 1 477 4890
    Our colleagues are at your kind disposal with your questions from Monday to Friday 8:00-16:00, on Thursdays on 8:00-20:00.
  • Customer and sales office

Statute of AEGON Magyarország Önkéntes Nyugdíjpénztár (AEGON Hungary Voluntary Pension Fund) Consolidated version incorporating amendments Approved by the General Meeting of Delegates at its session on 3 December 2020


You can find the voluntary pension fund entry form by clicking the link. The Hungarian-English form is only for information purposes. For entry, the Hungarian form must be used!

+ How does the Hungarian pension system work?

The state pension system is a so called „pay as you go” system, which means, that the contributions paid by the employees and employers are paid out to the pensioners immediately. Therefore no savings are created. The incoming revenues are transferred to the pensioners at once.

Our pension will depend on the current active employee/pensioner portion, and the state employment policy.

The society is aging, the population of pensioners is increasing, the number of active employees is decreasing.

The voluntary pension funds are independent of the state system. The contributions can be made both by the employers and employees. Own contributions qualify for tax allowances. The pension account can be inherited, it generates yields, its main purpose is to support pensioners although it is flexible and earlier payments are possible too.

+ What tax reimbursement can I get if I choose to make own contributions in 2019?

The tax reimbursement is 20% of your payments (individual deposits, company donations and company contributions). The maximum of the allowance is HUF 150,000 per annum. It is paid by the Tax Authority to the pension account in the year following the tax year, i.e. in 2020 for the first time.

To reach the maximum tax allowance the individual payment is HUF 750,000.

+ What happens if I am leaving the company that contributes to my account, leaving the country or going on maternity leave?

In such cases you may either

  • continue to contribute yourself, paying at least the minimum monthly fee which is currently HUF 6,000 or
  • if no contributions arrive to the account your money is still invested, i.e. it can generate yields and our pension fund is entitled to deduct maximum HUF 4,000 per annum from the positive yields generated.

+ What are the benefits for foreign citizens, working temporarily in Hungary? Are these people entitled for Hungarian state pension?

Foreign citizens may also benefit from these pension contributions, even if they move from country to country every three-four years. Savings account created in the different couneztries accumulate by the time they retire. The account left behind in Hungary does not create additional expenditures, but over years it generate yields and finally at retirement supplement the pension regardless in which country the individual retires.

Hungarian state pension (not the above discussed VPF pension) depends on many factors, e.g. nationality, number of years of service in certain countries, the country in which the person finally retires and the international agreements between Hungary and the retirement country.

+ Why is it worth starting putting aside for pensions early (even below age of 30)?

The earlier you can start putting aside money due to the compound interest the more yields and savings are generated to supplement future pensions.

+ What kind of services can I choose at retirement?

  • Lump sum.
  • Annuity for fixed number of years (can be inherited during the annuity payments)
  • Combination of the services above.

The type of service must be decided at retirement.

+ When can I withdraw the money?

As a main rule, the savings can be withdrawn free of personal income tax after reaching the retirement age, which is currently 65 years (with some special exceptions).

The savings can be withdrawn before the retirement age if at least 10 years had gone since the joining. In this case the yields are tax free, but the capital is taxable as the money is not used for pension purposes. Therefore the “ten-year rule” does not represent a termination date but it is rather an option.

+ What happens to the saving if someone dies before the retirement age?

Money is inherited by the heir-at-law or by the beneficiary. The name of the beneficiary can be modified in writing any time (free of charge).

+ Which investment portfolio should I choose?

Generally speaking the portfolio containing more shares will generate more yields on long term, but on short term yields may volatile a lot. Please check our brochure when choosing your portfolio.

+ What should I do if I am already a member of Aegon VPF?

Please send your membership certificate  to HR or payroll in case your employer pays pension fund contribution.

Data protection statement of Aegon Pension Fund Management Company >>