Hungary private-pension funds keep 102,000 members, cabinet says

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HUNGARY - Hungarian private-pension funds retained 102,000 clients, or about 3.2% of their previous membership, by yesterday's deadline in the government's drive to funnel their assets to the state, said Gabriella Selmeczi, the government commissioner for pensions.

Hungary gave three million private-pension fund members an ultimatum last year, telling them to transfer their portfolios to the state or lose the right to state retirement pay. "The sum we plan...

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