Hungary approves pension fund overhaul as EU eyes debt deal

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HUNGARY - Hungarian lawmakers yesterday backed a government bill that may force most of the Ft3trn ($14.5n) in private pension fund portfolios to move to the state as the Cabinet works to reduce public debt.

The bill strips citizens who fail to move their private- pension fund assets to the budget of a state pension. Lawmakers late yesterday approved the bill by a vote of 250 to 58 with 43 abstentions,...

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